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18 Apr 2013
Forex: CHF/JPY eyes near term support at 105.00
FXstreet.com (Barcelona) - Having made a morning high at 105.92, CHF/JPY has sold off throughout the majority of the European and into the US session, and is up 0.32% on the day and currently trading at 105.48.
On its morning climb, the pair found resistance just below 106.00, where the hourly 200 MA lies, before declining to where it has currently found support at the psychologically round 105.00 level before springing higher to its current levels. Hourly MA´s are flat, ranging and devoid of any overarching directional momentum, while stochastics have shuffled down from overbought territory yesterday evening, to where they are currently at 51 in the mid range. Hourly RSI is also at 51 and moving with sideways momentum.
On its morning climb, the pair found resistance just below 106.00, where the hourly 200 MA lies, before declining to where it has currently found support at the psychologically round 105.00 level before springing higher to its current levels. Hourly MA´s are flat, ranging and devoid of any overarching directional momentum, while stochastics have shuffled down from overbought territory yesterday evening, to where they are currently at 51 in the mid range. Hourly RSI is also at 51 and moving with sideways momentum.