26 Sep 2013
CHF/JPY soars as the Japanese currency tumbles
FXstreet.com (Athens) – The CHF/JPY is heading north since the early opening of the Asian bourses, due mostly to the fact that the Nikkei 225 finally cracked 14,500 this morning, as well as on renewed talk on corporate tax.
CHF/JPY skyrocketing due on Nikkei upward trend and chattering on corporate tax
The CHF/JPY is trading constantly upwards, as Nikkei 225 finally cracked the 14,500 this morning. What’s more, we had renewed talks on corporate taxes that will probably soften the schedule sales tax on the first of April, i.e. the “Abenomics” fourth arrow to boost foreign investments in Japan as soon as possible. To elaborate on, as for the sales tax, announcement will be probably inevitable but should first wait the release of the Tankan survey as of October the first.
Technical Outlook and Strategic Bias on CHF/JPY
At the time of writing the pair is trading upwards at 108.60, up 0.33%. The FXstreet.com Trend Index shows the pair to be slightly bullish and overbought in the 15 minutes timeframe. Daily pivot point support can be found at 108.09, 107.80, 107.52 and resistance at 108.93, 109.13, 109.80, respectively.
CHF/JPY skyrocketing due on Nikkei upward trend and chattering on corporate tax
The CHF/JPY is trading constantly upwards, as Nikkei 225 finally cracked the 14,500 this morning. What’s more, we had renewed talks on corporate taxes that will probably soften the schedule sales tax on the first of April, i.e. the “Abenomics” fourth arrow to boost foreign investments in Japan as soon as possible. To elaborate on, as for the sales tax, announcement will be probably inevitable but should first wait the release of the Tankan survey as of October the first.
Technical Outlook and Strategic Bias on CHF/JPY
At the time of writing the pair is trading upwards at 108.60, up 0.33%. The FXstreet.com Trend Index shows the pair to be slightly bullish and overbought in the 15 minutes timeframe. Daily pivot point support can be found at 108.09, 107.80, 107.52 and resistance at 108.93, 109.13, 109.80, respectively.