Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
USD/CHF: a negative signal
2019-11-11 • Updated
TP1 0.932 TP2 0.926 TP3 0.9225
On the daily chart of USD/CHF, bulls tried twice to overcome resistance at 0.9475 and both times failed. It points at their weakness and increases the possibility of the pair’s decline below the lower border of the uptrend channel and further resumption of the downtrend.
On H1, there’s a “Three Indians” pattern. A break of support at 0.9415 and getting outside of the bullish channel will trigger the “Shark” pattern.
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