CAD/JPY - CAD/JPY remains at the upper end of a nearly 7 month range.  The pair has broken below a medium term trendline that began on 5/18 at 98.39 but has since retraced 61.8% of the move down from 104.40.  For the range scenario to continue, CAD/JPY needs to fall and test the lower end of the range.  Resistance is at the 6/29 high of 104.40 as well as the 12/6/05 high of 105.02.  A break above these levels could lead to a breakout towards the 138.2% fibo of 105.02-97.10 at 108.00.  The recent bearish divergence with oscillators on the daily favor a continued range and thus slower prices.

CHF/JPY - CHF/JPY is a replica of EUR/JPY and may be near the end of a long term 5 wave bull trend (from 9/7 low at 58.83 - see weekly chart below).  Further, the long term 5th wave begins on 11/10/2003 at 78.89 and takes the shape of an ending diagonal (as does EUR/JPY).  The upper resisting line from the diagonal sits near 94.00 - which would be resistance.  Typically though, this pattern ends with a quick spike through the top of the pattern before the ensuing downtrend.  Thus, the pair certainly has the potential to rally to either the 138.2% or 161.8% fibos of 93.11-87.63 at 95.19 or 96.54.

NZD/JPY - Kiwi has consolidated and digested losses to 68.90 in a choppy range.  The daily shows a possible reversal as the pair has bounced from the lower Bollinger band on the daily.  Also visible on the daily chart is a inverse head and reversal pattern.  The pattern would be completed on a break above the neckline, which currently sits at around 71.33 (the neckline declines roughly 6 pips per day).  The 6/30 and 7/3 lows are initial support at 69.32/37 with the 6/28 and 6/29 lows at 68.90/69.02 as additional support.

Jamie Saettele is a Technical Currency Analyst for FXCM.