We were supposed to have the entry early at 1.0956 and target wave 4 at 1.1003 or its violation at 1.1054
But it seems there is still a corrective to wave 4 though there is a bearish trend long to wave 5. So we can have calculated risk to grab some few pips to wave 4.
Trade with care
There is high proba for bullish rally as supported by RSI and MACD. Choose your entry point wisely. But its better to wait for any consolidation at that critical point in the line of EMA 200.
Trade with care
Potential Entry 1710.91
Notice the behavior of indicators i have used
RSI is consolidating around overbought
Macd 4c which measure momentum has a defined channel pattern which reassure the probability that price will fall.
Trade wit care
The continual decline in price will continue to be an opportunity to buy at low price. I have based my bullish sentiment on RSI, zones and volume and they all seems to add up. But need not rush on this, there obvious should some consolidation on that zone before price retrace for reversal
The JPY/CHF has reached a vital area.
The pair is ending the month and approaching the 100 EMA. In previous sessions it failed to breakthrough.
Now we should watch out what price is going to do around this zone. Whether it will break it, providing opportunity to buy or it will consolidate and retrace back, ...
Good entry at 2.516
Then you can choose to have SL at 2.772 or 3.092. I would recommend the 2.772 which is risk effective as you can see trend is up.
And as you can see as price will consolidate at point D the RSI will likely to consolidate at an overbought state which make this setup high ...