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  1. #1
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    Question CHF/JPY Technical Anlaysis

    CHF/JPY during the recent Days could ascend with reformation and record the top price of 114.417. Right now the mentioned top price is recorded by the next descending candle and is one of the most important resistance levels in front of price.With the formation of a Shooting star and Harami candlestick pattern, there is a warning for formation of a Top price and changing direction in the chart but closing of the descending candle at the end of day is necessary for attention to this signal.

    According to the formed price movements, there is AB=CD harmonic pattern with idea ratios of 61.8 and 161.8 between the top price of 114.417 and bottom price of 111.218 that warns about descending of the price from the D point of this pattern. Stoch indicator in daily time frame is in saturation buy area and confirms the harmonic D point with its possible descending cycle and warns about the potential of changing price direction during the next candles.Generally until the top price of 114.417 is preserved , there is the possibility of descending of the price during next days.
    Last edited by Moderator; 10-31-2014 at 05:56 AM. Reason: Advertising not allowed

  2. #2
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    CHF/JPY during the recent weeks was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 124.145. Price has been stopped from more ascend by reaching to the specified resistance levels(made of 2 peak prices) in the picture below and with exit of some buyers from their trades , the Shooting Star candlestick patterns have been created. These candles shows vulnerability and indecision market in ascending or descending of price that for confirmation it needs closing of a bearish candle.
    As it is obvious in the picture below, there is a Shark harmonic pattern between the bottom price of 111.231 and top price of 124.145 that warns the price downfall from the D point of this pattern and has been prevented from more increase till now. According to the strong and consistent uptrend, Stoch indicator is in saturation buy area and in divergence mode with the price chart that confirms the created top price and warns about the potential of changing price direction. Generally according to the technical signs in the price chart, until the top price of 124.145 is preserved; there is the potential for descending and price reformation in this currency pair.

    Last edited by Moderator; 12-17-2014 at 06:21 PM.

  3. #3
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    CHF/JPY was in a strong ascending trend and without reformation that could record the top price of 124.567 which is the next nearest resistance level of this currency pair.This currency pair by reaching to the obstacle such as the Fibonacci level of 2.24 (resistance level) and the round price level of 124.500 has been stopped from more ascend that shows buyers used this price level to exit their trades.

    Currently in daily time frame with formation of Dark Cloud Cover candlestick pattern (the failure of buyers in reaching to the higher prices) price has been stopped from more ascending and there is a possibility of formation of a top price and finally descending of the price.As it is obvious in the picture below, between the bottom price of 111.214 and the top price of 124.567 there is ABC harmonic pattern with the Fibonacci ratio 2.24 that warns about descending of the price.RSI indicator in this time frame and in Weekly time frame is in saturation buy area and in divergence mode with the price chart that warns about the potential of changing price direction and a price reformation.


    Last edited by Moderator; 12-17-2014 at 06:14 PM.

  4. #4
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    CHFJPY Technical Levels - 16.05.2017

    CHF/JPY broken the previous high of 114.31 made on May 8th 2017 and jumped till 114.67 at the time of writing. It is currently trading around 114.72.
    The pair short-term trend is bullish and is expected to reach 115.50 in the short term as the long as support 112.50 holds. Bullish continuation can be seen above 115.50 level. Any break above 115.50 will take the pair to next level till 117.30.
    On the lower side, near-term minor support is around 113.65 (4H Kijun-Sen) and any break below will drag the pair till 113.20 (55 4H EMA)/112.65 (100 4H EMA).

 

 

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