CHF/JPY Technical Analysis
- ATR range is 143.85-141.36
- Bearish Twins formation
- Bank holiday
- Final swing target is 139.11
MEGATREND MAs: Bearish
D1 Chart CHF/JPY
- Bearish Twin candlestick formation
- Entry
- Intraday target
- Swing target
The CHF/JPY ATR is 198 pips which makes it a very volatile market. Today we have a countertrend move happening as the JPY banks are on holiday. However the technical pattern that we see is Twin formation which is bearish. Consisting of two back-to-back Pinbars it is very bearish. Adding to that trend is bearish too. However, the holiday in the JPY means that there is no one to defend Yen levels and we might see a move up before a move down.
If trend is respected we should see 141.35 by the end of the trading day. During the night continuation is possible towards the swing target zone which lies between 139.66 and 139.11.
This analysis, all the patterns and all entry signals and targets are a part of the Megatrend system Join my Telegram group to receive trading signals.
Cheers and safe trading,
Nenad
Summary of December trading results is HERE (click to see)
Cheers and safe trading,
Nenad
