Important JPY Pairs’ Technical Overview: 29.09.2017

USD/JPY

With a fortnight long ascending trend-channel support restricting the USDJPY’s downturn, chances of the pair’s extended recovery towards the 113.25, the 113.45 and then to the 113.70 seems quite acceptable. However, the 114.00 round-figure and the channel-resistance of 114.40 might confine its following advances, failing to which can further propel the north-run in direction to 114.65 and the 115.10 upside numbers. On the contrary, pair’s break of channel-support, at 112.30 now, can quickly fetch it to 111.40 and to the 110.70 rest-points. Moreover, during the quote’s sustained decline below 110.70, the 110.25, the 109.90 and the 109.20 could entertain the sellers.

NZD/JPY

Even if 100-day SMA triggered the NZDJPY’s U-turn during early-week, the pair couldn’t clear 81.65 resistance and is presently witnessing pullback moves to re-test the 80.75 and the 100-day SMA level of 80.45. Should the pair closes below 80.45, the 79.70 and the 79.20 can offer small barriers before the longer-term TL support of 78.45 gains importance. Meanwhile, a clear break above 81.65 may help the pair to aim for 82.00 and the 82.80 resistance-levels, surpassing which 83.60 and the 83.90 could reappear on the chart. In case if Bulls keep dominating the momentum after 83.90, it seems wise to expect the pair’s northward trajectory targeting 61.8% FE level of 85.35.

CHF/JPY

Following the CHFJPY’s bounce from 115.00–115.05 support-zone, the pair is heading to again confront the 116.15-20 horizontal-resistance that confined its upsides off-late. Should the pair manages to break 116.20, it can easily rise to 116.45 and then to the 61.8% FE level of 116.80 while 117.00 and the 117.70 could please Buyers afterwards. Alternatively, the 115.60 and the 115.30 may offer adjacent rests to the pair during its pullback ahead of highlighting the 115.05–115.00 area. If at all the south-run stretches below 115.00, the 114.70, the 114.25-20 and the 113.65 may act as consecutive supports for the pair.

Cheers and Safe Trading,
Anil Panchal