NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
USD/CHF: bears practice deceit
TP1 1.0085 TP2 1.0145
On the daily chart, USD/CHF is getting outside of the trade channel. This increases the odds of correction. If bears manage to pull the pair below support at 0.9890 and fix below it, chances of continuation of the pullback to 0.9775-0.9800 will increase.
On H1, return to the middle of the previous consolidation range of 0.9940-1.0035 will trigger “Shakeout-Fakeout” and be a signal for opening longs. There we also find the lower border of an uptrend channel.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...