29 Jan 2015
CHF/JPY falls to post SNB low
FXStreet (Mumbai) - The CHF/JPY pair fell to a level last seen on Jan 15th when the Swiss National Bank (SNB) announced an unexpected end to the EUR/CHF floor.
Seventh consecutive session of losses
The pair is down for the seventh-consecutive session today, trading lower for the day at 127.85 levels. The Swiss Franc has been weakened slow and steady since Jan 15th on rumors of SNB’s intervention in forex markets. Rumors are also doing rounds that policymakers are considering 1.1000 levels in EUR/CHF as manageable.
Meanwhile, the Japanese Yen has remained relatively resilient against the US dollar on account of risk aversion in the equity markets. The USD/JPY pair is up 0.27% at 117.87 levels. On the other hand, the USD/CHF has gained 1.76% to 0.9209 levels. Consequently. The CHF/JPY has tanked 1.45%.
CHF/JPY Technical Levels
The immediate support is located at 127.00 (5-week average), under which losses could be extended to 124.49 (Dec. 7 high). Meanwhile, resistance is located at 128.67 (Jan. 27 high) and 129.21 levels.
Seventh consecutive session of losses
The pair is down for the seventh-consecutive session today, trading lower for the day at 127.85 levels. The Swiss Franc has been weakened slow and steady since Jan 15th on rumors of SNB’s intervention in forex markets. Rumors are also doing rounds that policymakers are considering 1.1000 levels in EUR/CHF as manageable.
Meanwhile, the Japanese Yen has remained relatively resilient against the US dollar on account of risk aversion in the equity markets. The USD/JPY pair is up 0.27% at 117.87 levels. On the other hand, the USD/CHF has gained 1.76% to 0.9209 levels. Consequently. The CHF/JPY has tanked 1.45%.
CHF/JPY Technical Levels
The immediate support is located at 127.00 (5-week average), under which losses could be extended to 124.49 (Dec. 7 high). Meanwhile, resistance is located at 128.67 (Jan. 27 high) and 129.21 levels.