Seems like CHF will be going strong against all other currencies (Already happening against AUD and NZD). For CHF/JPY, looking at a break of the small upper trendline towards to a target of 121.5.
SL @123.20 EP @122.70 TP @120.00 RRR: 5.4 Risk: (50 Pips) Reward: (270 Pips)
Tradeline which was resistance could be support now and in combination with other indicators it makes me believe that CHF/JPY will move upwards near 125 in couple days if the trendline won´t be broken through. On 1h graph it looks like it will hold.
Here is a corrective structure that could be called a bull flag, This bull flag could be over, or not, thats why i have 2 alternatives, the channel, and the line. So there is a possibility of price going down to the channel for wave c. In any case, i will be interested in buying only when it breaks out of this channel, or goes beyond the end of wave B
i think like this , at time , in that price , we can expect bullish come's
In my opinion CHF completed a 5 wave and it's retracing. I've started a short at 133.60. SL is moved now at pivot point approx 132.80
This link () shows side-by-side chart with weekly on left panel and 4-hour on the right panel. Price is moving up and through the weekly Kumo and is looking at good support here. CMO suggests 4-hour is oversold within the context of strong larger trend.