CHFJPY. Critical reversal point
Updated
The pair arrived to a reversal point this week. Although, it´s been on a downtrend since last year, it hasn´t passed 110 figures to the date. At the moment, the lowering movement was held by a weekly 200 MA.
Looks like once again BOJ decision will be critical for JPY here: if an extremely soft monetary policy continues, this pair may refresh the historical maximums. If BOJ steps back, that may be enough impulse for a pair to go back to its historical values.
Looks like once again BOJ decision will be critical for JPY here: if an extremely soft monetary policy continues, this pair may refresh the historical maximums. If BOJ steps back, that may be enough impulse for a pair to go back to its historical values.
Note
Pair has already passed weekly 200 MA and WMA and now heading to 50% retracement level (chart below).In my opinion, this will be a critical level which was looked for: either we continue with a down trend, or the structure works and the huge trend, kept almost since a year ago, will be reversed.
Note
Trend continued but the pair has been bottoming since some weeks. Reversal may be near
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If there is no strategy that has proven itself successful, please do not trade with real money!
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