Swiss Franc Technical Outlook

C7 Sticking with the USD bearish count, expectations over the next several weeks are for a thrust lower that ends below 1.0367. Near term resistance is at 1.0820. British Pound / Japanese Yen C8 The GBPJPY is resisted by a line drawn off of the June 12, June 30, and July 23 highs. Staying below 156.86 keeps the near term trend pointed lower towards a short term support line at 153.90. A drop below there exposes short term Fibonacci support at 154.30.