CHFJPY still bullish
CHFJPY is still bullish based on the Ichimoku analysis. On this Weekly chart we can clearly see that the Cloud is still uptrending and the Lagging Span is well above the price.
The price have been retracing last week and could retrace up to the Weekly Kijun Sen, from which we can expect a bounce to the upside to resume the overall uptrend. If the market breaks that level, the Cloud would be the ultimate support.
In the following Daily chart, we see that the price is trying to cross the Cloud by a thin passage. Crossing the cloud will active the target to the WLY KS as mentioned above.
The medium/long term TP is the previous high back from June 2015 as shown in the following Monthly chart:
Glossary :
TS = Tenkan Sen | KS = Kijun Sen | LS = Lagging Span/Chikou Span
DLY = Daily | WLY = Weekly | MLY = Monthly
TL = Trend Line | TP = Take Profit | SL/ INV = Stop Loss / Invalidation | TF = Timeframe
** THIS ANALYSIS IS MY OWN OPINION AND IS NOT A TRADING OR INVESTMENT ADVICE. ALWAYS TRADE WITH CARE **
The price have been retracing last week and could retrace up to the Weekly Kijun Sen, from which we can expect a bounce to the upside to resume the overall uptrend. If the market breaks that level, the Cloud would be the ultimate support.
In the following Daily chart, we see that the price is trying to cross the Cloud by a thin passage. Crossing the cloud will active the target to the WLY KS as mentioned above.
The medium/long term TP is the previous high back from June 2015 as shown in the following Monthly chart:
Glossary :
TS = Tenkan Sen | KS = Kijun Sen | LS = Lagging Span/Chikou Span
DLY = Daily | WLY = Weekly | MLY = Monthly
TL = Trend Line | TP = Take Profit | SL/ INV = Stop Loss / Invalidation | TF = Timeframe
** THIS ANALYSIS IS MY OWN OPINION AND IS NOT A TRADING OR INVESTMENT ADVICE. ALWAYS TRADE WITH CARE **
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