CHFJPY - initial thoughts
Fundamentals for the Yen are coming up. We have the Revised Industrial Production, and the tentative news on the BOJ policy rate, the BOJ Outlook report and Monetary Policy Statement. The last two would be high impacting news if they do go forward with it. Or when they do. Whether it happens tomorrow or not, it will happen eventually
On the technical side of things the higher timeframes (4H and up) trades are feeling the buy, while the lower TFs are more for the Sell. I'm in a sell on the pair since Friday. It's still early in the trading week, so we'll see how that goes.
In my opinion, I'd go for a long term buy, given the technical side of things. If you want to hold a shorter term trade, I'd go for a sell. But I wouldn't go in for a trade on the pair until the news is past. If you were in a trade, hold it for now. But don't get in yet. Wait at least a couple hours for the market to get into its stride. Then, depending on where the market is, we can make our decisions
On the technical side of things the higher timeframes (4H and up) trades are feeling the buy, while the lower TFs are more for the Sell. I'm in a sell on the pair since Friday. It's still early in the trading week, so we'll see how that goes.
In my opinion, I'd go for a long term buy, given the technical side of things. If you want to hold a shorter term trade, I'd go for a sell. But I wouldn't go in for a trade on the pair until the news is past. If you were in a trade, hold it for now. But don't get in yet. Wait at least a couple hours for the market to get into its stride. Then, depending on where the market is, we can make our decisions
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