Back
10 Sep 2013
CHFJPY congested at a tight range
FXstreet.com (Athens)- Despite the fact that all Japanese crosses were heavily boosted as risk-appetite strikes back on easing worries regarding the Syria’s issue as well as on solid data on behalf of China, Japan and Australia, the CHFJPY remains confined at a very tight range.
Tokyo left the runners-up for Olympics game (Madrid and Istanbul) behind; Nikkei up but CHFJPY confined
The pair didn’t manage to follow Nikkei and all the Japanese crosses soaring across the board. It is just trading a bit higher, but still very much congested a really tight range. What’s more, besides the fact, that mainly due to the waning of geo-political fears, as well on the surging risk-appetite, Nikkei and the Japanese crosses skyrocketed across the board, the Swiss data also came much in line with expectations. Still, the pair does not have the momentum to trend higher. Elaborating on, The monthly reads on Swiss unemployment and Swiss retail sales figures came in just about as expected – failing to affect the pair.
Technical Outlook on CHFJPY
At the time of writing the pair is trading at 106.82, up 0.03%. The FXstreet.com Trend Index shows the pair to be slightly bullish in the 15 minutes chart. Daily pivot point support can be found at S3: 130.26 S2: 130.03 S3: 129.84 and resistance at R1: 132.45 R2:132.77 R3: 132.95, respectively.
Tokyo left the runners-up for Olympics game (Madrid and Istanbul) behind; Nikkei up but CHFJPY confined
The pair didn’t manage to follow Nikkei and all the Japanese crosses soaring across the board. It is just trading a bit higher, but still very much congested a really tight range. What’s more, besides the fact, that mainly due to the waning of geo-political fears, as well on the surging risk-appetite, Nikkei and the Japanese crosses skyrocketed across the board, the Swiss data also came much in line with expectations. Still, the pair does not have the momentum to trend higher. Elaborating on, The monthly reads on Swiss unemployment and Swiss retail sales figures came in just about as expected – failing to affect the pair.
Technical Outlook on CHFJPY
At the time of writing the pair is trading at 106.82, up 0.03%. The FXstreet.com Trend Index shows the pair to be slightly bullish in the 15 minutes chart. Daily pivot point support can be found at S3: 130.26 S2: 130.03 S3: 129.84 and resistance at R1: 132.45 R2:132.77 R3: 132.95, respectively.