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: bulls counterattack
TP 1.0015 TP2 1.0045 TP3 1.026
On the daily chart, USD/CHF bears failed to form a “Triangle” pattern and return the pair inside the long-term downtrend. If bulls manage to move the pair towards resistance at 0.9915 and conquer it, the risks of reaching 161.8% of the AB=CD pattern will increase.
On H1, the return of USD/CHF to the previous consolidation range of 0.9840-0.9915 and formation of the patterns “Crab” and “Shakeout-Fakeout” means that bulls have the initiative.
GBP/JPY reversed from resistance zone Next sell target - 149…