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CHFJPY Conquers Important Resistance Confluence

Discussion in 'Technical Analysis' started by Kaitlin, Dec 4, 2015.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Following the ECB announcement on Thursday, CHF benefited from EUR strength and lifted CHFJPY beyond an important resistance confluence near 122.50 region. The 122.50 resistance confluence comprised of 50-day SMA, the upper trend-line resistance of a descending trend-channel formation on daily chart and 23.6% Fib. retracement level of June to[​IMG]

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