{"id":62466,"date":"2014-10-24T07:45:25","date_gmt":"2014-10-24T11:45:25","guid":{"rendered":"http:\/\/countingpips.com\/?p=62466"},"modified":"2014-10-24T07:36:36","modified_gmt":"2014-10-24T11:36:36","slug":"swiss-franc-eyes-further-upside-against-yen","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/swiss-franc-eyes-further-upside-against-yen\/","title":{"rendered":"Swiss Franc Eyes Further Upside Against Yen"},"content":{"rendered":"<div id=\"inves-3701103212\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 24, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bullish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Higher swing low formed on 61.8% Fibonacci Retracement at 112.11;<\/li>\n<li>CHF\/JPY buyers face strong resistance at 113.50;<\/li>\n<li>Possible targets include 114.12 and 114.80.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>Swiss Franc is showing strong bullish intentions against Yen as short positions unwind at a face pace.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/CHFJPY23rdOctober.png\" alt=\"CHFJPY23rdOct\" \/><\/p>\n<p style=\"text-align: justify;\">CHF\/JPY technical landscape has been very predictable in recent weeks, without any fake signals, at first respecting a bearish configuration and more recently forming a strong reversal pattern. With a relatively light news calendar, we expect traders to act in a foreseeable way during today\u2019s U.S. trading session and early next week as well.<\/p>\n<p style=\"text-align: justify;\">After last week\u2019s downtrend invalidation, when price broke rallied above the most recent lower highs at 112.80 and 112.95, CHF\/JPY retraced for most of this week. Once price hit 61.8% retracement level was hit in the early hours on Thursday, large offers lifted price throughout the day, forming a bullish engulfing bar on Daily.<\/p><div id=\"inves-3395483795\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p style=\"text-align: justify;\">Spot is currently trading around 113.45. Sellers are still defending 113.50 (20<sup>th<\/sup> October high, 200 Moving Average on 4H and 38.2% Fibonacci level on September \u2013 October downswing), yet bullish momentum still points to a breakout. A successful breach and close above 113.50 will confirm CHF\/JPY is turning bullish from a swing perspective. Upside targets are begin at 114.10 (50% Fib), with a large resistance cluster between 114.50 and 115 being the main area of attraction for buyers.<\/p>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways Higher swing low formed on 61.8% Fibonacci Retracement at 112.11; CHF\/JPY buyers face strong resistance at 113.50; Possible targets include 114.12 and 114.80. Swiss Franc is showing strong bullish intentions against Yen as short positions unwind at a face pace. \u00a0 Technical Analysis CHF\/JPY technical landscape has been very predictable [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-62466","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=62466"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62466\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}