CHFJPY Daily Outlook – On Thursday the U.S. Jobless claims totaled 1.5 million, which was worse than expected, Bank of England extended QE by £100 billion, and the Swiss National Bank signaled stronger currency intervention if needed.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
On Friday we have the UK retail sales and speeches from several Fed figured including Jerome Powell.
Today I’m looking at the CHF/JPY pair which has been unable to break above the 114 resistance zone since the end of 2018 and once again turned back down the beginning of June.
While the pair remains above the daily Ichimoku cloud, its strongest support is at 111. A strategy for bears could be shoring now. And a strategy for bulls could be monitoring this support and potentially going long once it’s reached. The next support level is at 109.
What do you think of a range trade between 114 and 111? Head over to the comments section and let me know.
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