CHF/JPY surge slows down near 133.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Throughout March the value of the Japanese Yen has been plummeting on all charts. On the CHF/JPY rate it has taken the form of a 7.50% or 932 base point surge.

At the start of April, the surge of the rate had slowed down, as it revealed a resistance zone. Meanwhile, late March low levels pinpoint the location of a support zone. On April 8, the support zone was marked at 130.82/130.86, and resistance was at 133.32/133.59.

A move above the resistance zone might encounter resistance in the 2015 Swiss Franc's un-pegging from the Euro high level at 134.50, before booking new high levels.

However, a potential decline below 130.82 might find support at 130.00 and 128.00, and the 50-day simple moving average.
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