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ForexMedium•23 March 2026•

1 min read

Technical Analysis: CHF/JPY Rebounds as DAX and FTSE 100 Face Bearish Breakouts

Two central bankers, Christine Lagarde and Thomas Jordan, with EU and Swiss flags, Euro and Swiss Franc symbols, and coins.

Key Facts

1CHFJPY reversed from the 200.00 round support level, with a likely rise toward the 203.60 resistance level.

2The DAX index broke the powerful long-term support level of 23000.00, likely falling further to 21500.00.

Version History

1 additional source confirmed this story

Recent technical wave analysis from ActionForex highlights a divergence in global market performance, starting with a bullish reversal in the CHF/JPY pair. The currency pair successfully rebounded from the 200.00 psychological support level, with analysts projecting a move toward the 203.60 resistance zone. Conversely, European equity indices are showing significant weakness, as the DAX index broke through a critical long-term support level at 23000.00. This breakdown suggests a further decline for the German benchmark toward the 21500.00 mark. Similarly, the FTSE 100 has breached its support zone between 10100.00 and 10000.00, now targeting the 9645.00 level. These movements are driven by price action hitting key Fibonacci correction levels and breaking long-term trendlines. Investors are closely monitoring these technical shifts as they may signal broader bearish momentum for major European stock markets.