MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis of CHF/JPY for December 16, 2015

CHFJPY_INSTA.png

CHF/JPY is still trading down although a corrective wave up is taking place. The price is moving within the descending channel, and it was very close to reach the upper trend line, but yet failed to do so.

At the same time, CHF/JPY broke above 61.8% Fibonacci but has not touched the channel nor the next Fibonacci retracement level 76.4%.

While an uptrend trend line was rejected and resistance was not tested. Consider buying CHF/JPY near the current rate targeting R2 (124.24). Stop loss should be placed below S1 (122.34), which is 50% retracement level.

Support: 122.34

Resistance: 123.20, 124.25

The material has been provided by InstaForex Company - www.instaforex.com