Analysis of the Franc/JPY pair in the medium term
Analysis of the Franc/JPY pair in the medium term
This is due to the negativity witnessed by the Japanese yen in the current period due to the Japanese Central Bank continuing its accommodative monetary policy and also, in turn, the strength of the Swiss franc. We see a retest of the historical peak it achieved during the last period at 166.60.
If these levels of 166.60 are breached and a recurring 4-hour candle is installed above this level, we are likely to see what is called a renewal of the trend and the achievement of new historical peaks at the levels 169-171.
I currently expect a correction from these 166.60 levels to 164.80 levels, after which new mentioned historical highs will be achieved.
This is due to the negativity witnessed by the Japanese yen in the current period due to the Japanese Central Bank continuing its accommodative monetary policy and also, in turn, the strength of the Swiss franc. We see a retest of the historical peak it achieved during the last period at 166.60.
If these levels of 166.60 are breached and a recurring 4-hour candle is installed above this level, we are likely to see what is called a renewal of the trend and the achievement of new historical peaks at the levels 169-171.
I currently expect a correction from these 166.60 levels to 164.80 levels, after which new mentioned historical highs will be achieved.
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