Hello Traders,
Let’s hit the charts…
1. EUR/JPY
The EUR/JPY was analyzed on Sunday, if you missed it, you can check it out here
Price broke resistance level 118.473 at the close of the daily candlestick yesterday. Today we pretty much witnessed a pullback.
There is a huge probability that price may continue it’s bullish journey to the next possible resistance level (120.662).
We should also be patient enough to wait for that bullish move because this pair could also reverse to a previous support level 115.927.
2. USD/CHF
USD/CHF has a beautiful descending channel.
On the larger time frame the USD/CHF has a bullish outlook. That said, resistance level 0.99364 has to be broken before we embark on a bullish trade.
If a bullish breakout occurs, then we should be targeting 1.00161 as the next possible resistance level.
If for any reason a reversal of price happens, the ascending trendline should be our guide. A bearish breakout of the trendline, may most likely oull price to the next possible support level 0.96930
We are done with our market analysis today, join us again tomorrow for another round.
As always, stay pip-full
A bearish breakout of the trendline, may most likely oull price to the next possible 1st support level .9819
Great analysis Kadek
Thanks for the input