EUR/JPY broke key support level 131…
USD/CHF reversed from support zone
- USD/CHF reversed from support zone
- Next buy target - 1.0100
USD/CHF recently reversed up from the support zone lying between the pivotal support level 0.9880 (which stopped the previous sharp downward waves (A) and (C) - as can be seen from the daily USD/CHF chart below) and the lower daily Bollinger Band. If the pair closes today near the current levels it will form the daily Japanese candlesticks reversal pattern Morning Star.
Given the strength of the support level 0.9880 - USD/CHF is expected to rise to the next buy target at the next resistance level 1.0100 (top of the previous intermediate impulse wave (1)).
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.