Technical Checks For Important JPY Pairs: 28.12.2018

USD/JPY

Having failed to cross 111.35-40 horizontal-resistance, the USDJPY again dips beneath 200-day SMA and aims for the 109.80-75 rest-region. In case oversold RSI fall short of activating the pair’s U-turn around 109.75, the 109.30, the 109.00 and the 108.60 can act as intermediate halts before drawing market attention to the 108.10-107.75 support-zone. Alternatively, an upside clearance of 111.40 on a daily closing basis could quickly fuel the quote towards the 111.80 and the 100-day SMA level of 112.40. Moreover, pair’s successful rise beyond 112.40 enables it to confront the 113.15 and a downward slanting resistance-line near 113.80.

CAD/JPY

Even after trading near the lowest levels in nine-months, the CADJPY is yet to provide a weekly closing under 80.65-50 area that has been restricting the pair’s downturn since early 2017. If at all the Bears manage to conquer 80.50, the 80.00, the 79.60 and the 78.80 are likely following numbers to appear on the chart. Meanwhile, the 82.05-15 may continue limiting the pair’s near-term advances, breaking which 83.00 & 83.50 might lure the buyers. It should also be noted that the pair’s sustained up-move past-83.50 can flash the 84.30, the 84.70 and the 85.60 on Bulls’ radars.

CHF/JPY

CHFJPY struggles with 200-day SMA level of 112.40 in order to justify its strength in targeting the 112.80 and the 113.10, comprising 50-day SMA. Though, three-month old descending trend-line, at 113.85 now, may confine the pair’s up-moves after 113.10, if not then 114.00 and the 114.40 can grab the limelight. On the downside, the 111.55-35 seem immediate support for the pair, breaking which 111.00 and the 110.60 needs to be observed carefully. Given the pair’s extended south-run below 110.60, the 110.00, the 109.45 and the 108.60 may become sellers’ favorites.