Fundamental analysis:
CHF:
Economy is doing well.
Interest rates are somewhat steady.
Pegged to the gold price for 25% of their currency holdings and since gold is in an uptrend (now correcting) I feel like we should see CHF go up again after the correction in gold is done and dusted.
Currency will be less affected by looming EU economy.
JPY:
Economy doing well.
Good data coming out of Japan.
Steady interest rates.
Considered a safe haven currency.
Technical analysis:
Pair is in a channel right now looking to test the lower trend line (downward sloping). I am looking to enter long at the lower trend line if and only if the lower trend line holds as support on the lower timeframes and we can identify sellers exhaustion there. Do keep in mind this would be a countertrend move.
Entry at around 106.600.
TP: 108.300
CHF:
Economy is doing well.
Interest rates are somewhat steady.
Pegged to the gold price for 25% of their currency holdings and since gold is in an uptrend (now correcting) I feel like we should see CHF go up again after the correction in gold is done and dusted.
Currency will be less affected by looming EU economy.
JPY:
Economy doing well.
Good data coming out of Japan.
Steady interest rates.
Considered a safe haven currency.
Technical analysis:
Pair is in a channel right now looking to test the lower trend line (downward sloping). I am looking to enter long at the lower trend line if and only if the lower trend line holds as support on the lower timeframes and we can identify sellers exhaustion there. Do keep in mind this would be a countertrend move.
Entry at around 106.600.
TP: 108.300