CHFJPY Above the Clouds
Updated
The Swiss Franc is uber bullish to the Yen.
Markets breath in and out. So the consideration is to setup a trade in the direction of the trend ie. LONG.
Where from ?
The suggested area that may be of interest is 1.4135
1. Fibonacci 618 retracement level of the current swing.
2. Kumo Support (SSA) from 141.00 - 1.4130
3. Wave structure may be in 5
4. Trendline resistance
NB - strong support at 141.85
Where to ?
Given the anticipated retracement a V expansion would see price moving to 1.46.
Possibly a similar double bullish N wave
Time Frame ?
Who knows. Suggested are Kihon Suchi cycles of 17 and 26.
Markets breath in and out. So the consideration is to setup a trade in the direction of the trend ie. LONG.
Where from ?
The suggested area that may be of interest is 1.4135
1. Fibonacci 618 retracement level of the current swing.
2. Kumo Support (SSA) from 141.00 - 1.4130
3. Wave structure may be in 5
4. Trendline resistance
NB - strong support at 141.85
Where to ?
Given the anticipated retracement a V expansion would see price moving to 1.46.
Possibly a similar double bullish N wave
Time Frame ?
Who knows. Suggested are Kihon Suchi cycles of 17 and 26.
Note
Cloud should offer support and reversal from there. ...
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