Opportunistic Wednesday presents us with USD/CHF & CHF/JPY

Hello Traders,

let’s see what the charts have for us this Wednesday

 

 

1. USD/CHF

USD/CHF has broken a key support level (0.91412)

While this may be a good selling opportunity for this pair, it may be advisable to wait for a pullback on this trade in order to maximize the risk-reward ratio if price hits the next possible support level (0.90942) 

 

 

2. CHF/JPY

The CHF/JPY looks good but half baked.

Patience will be needed to see how price reacts around the 114.892 resistance level.

A rejection may simply mean price revisiting support level 114.368, and a bullish breakout may further encourage the bulls to take price to the next possible resistance level (115.571)

 

What say you?

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