CHFJPY. Critical reversal point
The pair arrived to a reversal point this week. Although, it´s been on a downtrend since last year, it hasn´t passed 110 figures to the date. At the moment, the lowering movement was held by a weekly 200 MA.
Looks like once again BOJ decision will be critical for JPY here: if an extremely soft monetary policy continues, this pair may refresh the historical maximums. If BOJ steps back, that may be enough impulse for a pair to go back to its historical values.
Looks like once again BOJ decision will be critical for JPY here: if an extremely soft monetary policy continues, this pair may refresh the historical maximums. If BOJ steps back, that may be enough impulse for a pair to go back to its historical values.
Comment:
Trend continued but the pair has been bottoming since some weeks. Reversal may be near
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!
In my opinion, this will be a critical level which was looked for: either we continue with a down trend, or the structure works and the huge trend, kept almost since a year ago, will be reversed.