empty
 
 
30.07.2015 12:28 PM
Technical analysis of CHF/JPTY for July 30, 2015

Following our previous analysis, CHF/JPY continued to move lower after rejecting R4 (131.30) and R2 (129.32). No signals of reversal to the upside of any kind should result in acceleration of the trend and a fast decline towards S1 (126.10) support area.

If you hold any short positions, consider holding them and potentially scaling up while rate is near R1 (128.09). A target is S1 support that is 0% Fibonacci applied to a breakout of the ascending channel. Hard stop loss should be placed just above yesterday's high of 128.62.

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback