USDJPY broke sharply higher which was expected
from a technical point of view. Price accelerated strongly after break out of
the corrective channel (circled zone). We can see that price made very strong
move to the upside in a very short period of time; thats clearly a personalty
of an impulse so we think its wave (iii), part of a new five wave rally.
Resistance for this wave (iii) comes in around 95.60-96.15 zone from where we
could see a fourth wave retracement back to 94.60 area. From a larger
perspective it seems that USDJPY is headed back to the highs.
USDCHF Technical Analysis - Sell at 0.9955
USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...
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Pivot: 78.45 Our preference: Short positions below 78.45 with targets @ 78.05 & 77.85 in extension. Alternative scenario: Above 78....
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Pivot: 92.85 Our preference: SHORT positions below 92.85 with 91.55 & 90.8 as next targets. Alternative scenario: The upside break...
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USDCAD is higher, but pair could be in final stages of an uptrend in wave (iii) as we can count five waves up from 1.0000 with current fift...
