InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    62% of positive reviews
    Real

    Technical analysis of CHF/JPY for March 21, 2016 2016-03-21

    Since my original idea on CHF/JPY was published, price remained near the sell entry point - R2 (115.40). Today, price started to move lower which is likely to continue to test one of two support levels, either S2 (114.10) or S3 (113.60) being the final target for ongoing wave down.

    Consider holding short positions with the stop loss just above R2, targeting S3 support level which corresponds to the 361.8% extention level of the Fibonacci channel.

    Support: 114.60, 114.10, 113.60

    Resistance: 114.90, 115.40

    CHFJPY_INSTA.png

    Show full picture

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree