USDJPY has been a rocket ship since 103 with a breathe at 110 before continuing towards 120. If we show a bearish structure setup, I'm looking to sell a lower high for a retracment towards 115-113 to close the gap from October/November.
I think we'll have 2 pretty great opportunities for GBPCHF weakness. One if fast approaching. I'm looking for a rejection near the recent wedge trendline for a sell back to the wedge support or lower if we can break the lows and open up more to 4500-4600.
I see a falling wedge setting up on the GBPUSD with pivots above and 1.6000 acting as near-term major resistance. If price rallies above 5775 I'm buying targeting the 6000 area. We may be triggered this week with soft or disappointing NFP #'s.
This is a great pattern setup. If OIL prices have one more bearish leg the CADCHF may break structure with this head & shoulders. A symmetrical 200 pip move for some nice profits.
