4 Feb 2014
CHF/JPY is back below 112.00 again
FXStreet (Moscow) - CHF/JPY started the day on the positive note and manager to return to the range above 112.00 as the JPY is growing across the board; the cross touched the intraday high at 112.34 but failed to keep up with the upside momentum and returned below 112.00.
CHF is loosing the game
CHF against JPY is the contest of the safe-heaven currencies and the Japanese has been the winner so far as CHF/JPY touched monthly low at 111.89 and closed below an important line of 112.00 yesterday. Better than expected Swiss PMI data was largely ignored, which confirmed that the cross is influenced mainly by risk sentiment. Today neither Japan, no Switzerland publishes significant macro statistics, so the fate of the cross will be shaped solely by technical and speculative factors. JPY is correcting higher across the board before the FED speakers scheduled later today. Though the cross will remain the «sell gains» affair as long as it is below 112.91. The support comes at yesterday's low of 111.89 and followed by 111.50.
What are today’s key CHF/JPY levels?
Today's central pivot point can be found at 112.30, with support below at 111.66, 111.26 and 110.63, with resistance above at 112.69, 113.33 and 113.73. Hourly Moving Averages are mostly bearish, with the 200SMA at 114.11 and the daily 20EMA at 114.37. Hourly RSI is neutral at 44.
CHF is loosing the game
CHF against JPY is the contest of the safe-heaven currencies and the Japanese has been the winner so far as CHF/JPY touched monthly low at 111.89 and closed below an important line of 112.00 yesterday. Better than expected Swiss PMI data was largely ignored, which confirmed that the cross is influenced mainly by risk sentiment. Today neither Japan, no Switzerland publishes significant macro statistics, so the fate of the cross will be shaped solely by technical and speculative factors. JPY is correcting higher across the board before the FED speakers scheduled later today. Though the cross will remain the «sell gains» affair as long as it is below 112.91. The support comes at yesterday's low of 111.89 and followed by 111.50.
What are today’s key CHF/JPY levels?
Today's central pivot point can be found at 112.30, with support below at 111.66, 111.26 and 110.63, with resistance above at 112.69, 113.33 and 113.73. Hourly Moving Averages are mostly bearish, with the 200SMA at 114.11 and the daily 20EMA at 114.37. Hourly RSI is neutral at 44.