USD/JPY: market tests Cloud’s support
Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.
USD/CHF: bulls need to arm themselves with patience
Recommendation: BUY 1,0085 SL 1,003 TP 1,02.
On the USD/CHF daily chart, the bulls failed to consolidate above the upper border of the downward trading channel. This tells us about their weakness. To restore the long-term uptrend, the upper border of the triangle near the 1.0085. mark should be broken. Then, the bulls will be able to hit a target in the "Wolf Wave" pattern.
On the USD/CHF hourly chart, there can be a rebound from current levels (61.8% of the last downward wave + historical support). But for this to happen the bulls should arm themselves with patience.
Anastasia Mileshkina
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