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: franc got into dragon’s lair
BUY 0.9615 SL 0.956
TP1 0.9695 TP2 0.978 TP3 0.986
On the daily chart, USD/CHF formed a powerful reversal pattern “Triple bottom”. As a result, risks of a “Dragon” pattern increased, although bulls firstly need to get above resistance at 0.9615 and 0.9650.
On H1, USD/CHF keeps forming the “Dragon” pattern. Bullish movement will face at least one pullback (“Head of the Dragon”), although the pair may have already chosen its direction. As a result, buying on breakthroughs is the main strategy.
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...