With CHF/JPY coming near fresh yearly highs after such a strong multi week push, its do for a reversal at the 118-119 zone. For the pattern traders we can see CHF/JPY presenting a huge ascending triangle for bullish long term momentum, in the mean time im looking to go short in expectations of price going back into consolidation. . If you take the time to zoom in...
Target this morning missed take profit by 17 pips, but as you can see price broke above resistance now looking to potentially enter on the retest of broken resistance now support.
CHF/JPY is looking to complete a five wave structure and should be correcting back downward with an ABCD wave formation. There is a resistance zone on a daily and it is backed up by the 1.618 fib level.
Watch for a break of the Ctl for potential longs for a new potential higher high
The dominant long-term pattern which as confined SGD/JPY since mid-2016 is an ascending wedge. This long-term pattern is mentioned because the rate bounced of its lower boundary on Tuesday. Thus, the Singapore Dollar’s attempt to reach the bottom line of a five-week channel was stopped near 82.60. The rate has since edged slightly higher during the previous...
strong bullish close has broken the resistance level at 116.2. our next target is 118, 140 pips from current level
CHFJPY 4H SHORT Possible Sea Pony Pattern
Retested the resistance, might go for to retest the support before flying high.
CHFJPY has entered into the SELL zone between 116.7 - 116.4 area this pair has been trading the range between 112.6 to 116.4 since September. Like previous trades on this pair, we are looking to trade this range again. SL - 116.5 TP - 114.9 TP2 - 114
This pair has fallen down into the cloud and I am waiting for a breakout back up and out of it to look for an entry. I am targeting the top of the bullish cloud as my target. If our bullish confirmaitons end and switch to bearish, it will invalidate this setup
Cup and handle pattern, break of resistance.
SGD/JPY was trading in a channel up for two months prior to breaching this pattern to the downside. The pair subsequently fell down to 83.40 and has since remained slightly above this mark. The current movement sideways suggests that a surge might be due in the nearest time. This assumption could be confirmed if the Singapore Dollar fails to breach the combined...
The CHFJPY is in the middle of its corrective phase which started when price action touched the lower end of its horizontal resistance area. After that this currency pair has accelerated to the downside. I expect a continuation of the down-trend until price action can challenge its horizontal support area. Any level above 114.000 represents a good entry...