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 plays with the patterns
Recommendation: BUY 0,977 SL 0,9715 TP1 0,993 TP2 1,005.
On the USD/CHF daily chart, the realization of the inverted Shark pattern continues. The growth of quotes above high (0.9765) of the internal bar may lead to the continuation of the rally. In contrast, a breakout of the support located at the low of the internal pattern (0.9725) may lead to the return of the quotes towards lower border of the downward trading channel.
On the USD/CHF hourly chart, a target 78.6% of the Gartley pattern has been hit. Then, there was a rollback. If the high at 0.977 is updated, the Dragon pattern will continue its formation. On the upside, there is a target 161.8% of the Crab pattern,
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...