Mon 12th December 2022

Today, Our Daily Currency Strength Weakness Video will focus on:

  • CHFJPY
  • NZDCAD

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

CHFJPY- Will The Price Trade Higher?

In today’s currency strength analysis video we can see an opportunity for the price of CHFJPY to move higher. 

The CHF is S2 and JPY is W2 on the day traders tables suggesting the market could move higher. 

Recently the price of CHFJPY tested the extreme highs at 151.00 and fell over 800 pips lower.

However, the trend of the market is up which could see the price trade back towards the key swing highs.

Technical Observations

  • The CHF is S2 and JPY is W2 on the day traders table. 
  • The price has traded in a strong upward trend since forming the low at the start of 2020.
  • A rally higher could lead to the price reaching the previous highs of 151.00 or the trendline resistance at 146.70.
  • Support was found at the previous swing highs of 143.00.
  • Price is currently trading above the Daily 200 Moving Average. 

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