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Descending Trend-Channel Support Confines CHFJPY Downside

Discussion in 'Technical Analysis' started by Kaitlin, Jan 20, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Having failed to counter 123.50-80 resistance-area, encompassing 100-day SMA, upper-line of the six month old descending trend-channel and the 61.8% Fibonacci Retracement of its January 2015 surge, the CHFJPY plunged to the lowest levels in a year. However, support-line of the mentioned channel, presently around 116.20, continues limiting the pair's[​IMG]

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