Technical Checks For USD/JPY, GBP/JPY, CAD/JPY & CHF/JPY: 21.09.2017

USD/JPY

USDJPY’s reversal from 107.30 presently helps the pair to trade beyond 200-day SMA for the first-time in more than two months; however, it is necessary for the quote to register a daily closing above 112.20 SMA figure in order to aim for 113.60 and the resistance-line of a broader descending trend-channel, at 114.00 now. Given the pair’s successful north-run after 114.00, the 114.50 and the 115.50-55 might entertain buyers before pleasing them with 116.00 round-figure. Should prices fail to sustain recent strength and close beneath 112.20, the 100-day SMA level of 111.10, followed by 110.60 and the 110.00, might become nearby supports to observe. Moreover, pair’s additional weakness post-110.00 break can have the 108.60 and the 108.00 as intermediate halts prior to igniting the importance of the channel-support number of 107.25.

GBP/JPY

Even after clearing the 148.50, the GBPJPY needs to justify its strength by surpassing the 151.50-70 horizontal-region on a weekly closing, which in-turn could open doors for its northward trajectory to the 153.60, the 154.70 and then to the 155.75. If the pair continues trading above 155.75, chances of its rally to the 158.00 can’t be denied. On the downside, the 150.00 continue being near-term important support for the pair, breaking which it can drop to 149.60 and to the 148.30. In case of the pair’s trading below 148.30, the 147.60 and the 146.50 could come-back on the chart.

CAD/JPY

With more than three-month old ascending trend-line restricting the CADJPY’s immediate advances at 91.40, overbought RSI is likely to play to its role by dragging the quote towards the 90.30, the 90.00 and the 89.70-60 adjacent supports. Should the pair declines below 89.60, the 89.00 and the 88.15 can be considered as forthcoming rests. Meanwhile, a clear break of 91.40 may have to conquer the 91.65 on a daily closing basis, which in-turn could fuel the upside momentum in targeting 93.20-25 region, comprising highs marked in October and November 2015. If at all Bulls keep dominating the trading desks after 93.25, it seems wise to aim for 95.00 as resistance while being long.

CHF/JPY

Following its failure to break 116.35-40 horizontal-resistance, the CHFJPY is indicating its pullback to the 115.00, the 50-day SMA level of 114.70 and then to the 114.20 consecutive nearby supports. Though, five-month long upward slanting TL and 200-day SMA, around 113.75-70 might confine the pair’s following downside, which if broken could further weaken it to test 112.60 support-mark. Alternatively, 116.00 can offer immediate resistance to the pair ahead of making it confront the 116.35-40 area, clearing which it could escalate the recovery in direction to 117.40 and 117.80. If at all prices manage to trade above 117.80, the 118.00, the 118.40 and the 118.60 may raise small barriers during their journey to 119.00.

Cheers and Safe Trading,
Anil Panchal