Tuesday Market Analysis: GBP/JPY & CHF/JPY

Hey traders,

Let’s hit them charts:

1. GBP/JPY

Today, price hit a key support zone on the GBP/JPY

I will be waiting to see if the daily close supports my bullish bias. If we do get a rejection, coupled with the already over sold stochastic, I will be buying GBP/JPY, and hopefully riding with the bulls, back to NPRZ

2. CHF/JPY

Another strong reversal can be spotted on CHF/JPY.

I love this setup because price is just chilling on top of the 200 ma, and we also have additional confirmation with the oversold stochastic.

I will be waiting for the close of the daily candlestick, to see if my bullish bias is in sync with the market before joining the buyers to NPRZ

What say you?

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