Yahoo Finance Technical Outlook For Important JPY Pairs: 20.06.2018
USD/JPY
With the 109.55-50 support-region activating USDJPY’s U-turn, the pair seems eager enough to confront the support-turned-resistance line of 110.35 for one more time. If comparative USD strength clears the 110.35 barrier, the 110.80-85 horizontal-region and the 111.40 resistances should be watched closely as break of which could open the door for the pair’s rally towards 111.80 and 61.8% FE level of 112.30. On the contrary, pair’s failure to surpass the 110.35 TL can portray Breakout-Pullback-Continuation (BPC) formation, which in-turn highlight the 109.80 and the 109.55-50 rest-points. Given the pair’s dip beneath the 109.50, the 109.10 & 108.70 might offer intermediate halts ahead of pushing sellers to target the 108.10-107.90 broad support-zone.
GBP/JPY
GBPJPY is struggling around 144.25-10 support-area but oversold RSI can trigger the pair’s pullback in direction to the 145.30 and the 146.00-146.10 resistance-zone. However, the 147.25 and the 148.00 are likely strong resistances that could confine the pair’s upside past-146.10, if not then the 148.90, the 149.15 and the 150.00 may appear in Bulls’ radars. Alternatively, pair’s decline below 144.10 may drag it to 143.15 and the 142.00 round-figure whereas the 141.50, comprising 61.8% FE, could try disappointing Bears afterwards.
CAD/JPY
Sustained break of ascending trend-line indicates the CADJPY’s further downside to 82.40 and the 81.65 but 81.40-30 might question the pair’s weakness then after. In case if the pair refrains to respect the 81.30 mark, the 81.00, the 80.25 and the 80.00 psychological-magnet can mark their presence on the chart. Assuming that the pair’s reverses from present levels, the 83.45-50 and the 83.85 are likely immediate hurdles it needs to surpass before aiming 84.25 and the 50-day SMA level of 84.90. Moreover, pair’s successful rise above 84.90 enables it to meet the 85.30 and the 86.00 resistance-levels.
CHF/JPY
Even after closing above 50-day SMA on Tuesday, CHFJPY again tries to offer a D1 close beneath the 110.55 SMA level, which in-turn could fetch the pair to 110.00 and the 109.45 trend-line support. Should the quote declines below 109.45, the 109.00, the 108.45 and the 107.85, including 61.8% FE, may attract traders’ attention. Meanwhile, the 111.10, the 111.50 and the 100-day SMA level of 111.90 may entertain the buyers prior to challenging them with 112.10-20 resistance-area. If at all prices rally beyond 112.20, the 112.70, the 113.00 and the 113.60 may come in limelight.
Cheers and Safe Trading,
Anil Panchal
This article was originally posted on FX Empire
