CHF/JPY: a special US election trade post the results and candidate depending

Currently, CHF/JPY is trading at 107.16, up 0.65% on the day, having posted a daily high at 107.29 and low at 106.22.

USD: FBI provides last minute boost for Hillary Clinton – MUFG

CHF/JPY could be an interesting cross to watch given the safe haven status each of the two nations historically and indeed presently. Because of the SNB’s stance with respect to direct currency intervention is keeping the currency’s safe haven appeal lowThe Yen picks up the top spot when it comes to its safe haven demand and the cross has rallied on the back of the FBI conclusion surrounding Clinton's suspicious and external email servers. A trump victory could see a sharp decline in the cross or a continuation in the upside on a Clinton victory. 

CHF/JPY levels

Spot is presently trading at 107.16, and next resistance can be seen at 107.20 (Daily Classic R2), 107.29 (Daily High), 107.73 (Weekly Classic R2), 107.85 (Daily Classic R3) and 108.51 (Weekly Classic R3). Next support to the downside can be found at 107.11 (Weekly Classic R1), 106.84 (Daily Classic R1), 106.82 (Hourly 20 EMA), 106.79 (Monthly High) and 106.79 (Weekly High).

Watch our special US Election + Forex Market panel for more trading ideas