CHFJPY Short

Riding the recent bearish trend after worries regarding Italy's budget eased a bit (market seems to be back to risk-off). Waiting for a breakout and will manually enter past 115 if hourly price action shows continued bearish momentum, with 1st TP near @114.5 (-100 fib level in hourly and daily charts), and 2nd TP @113.3 (0 fib level in hourly, daily and weekly charts). There's possibility still of this pair bouncing to 116.33 especially if actual JPY ave. cash flow tomorrow is better than forecast, and if CHF CPI on Friday is lower than expected, so need to closely monitoring this pair.

www.poundsterlingliv...ld-be-changing-trend
seekingalpha.com/art...et-squeezing-eur-chf

Daily:

Weekly:

Confidence: C (because market in general is back to risk-on, and both CHF and JPY are considered haven assets-- in other words, high risk of getting whipsawed)

Kommentera:

*correction on above: "market seems to be back to being risk-on" (not risk-off, unless there's panic again regarding Italy or a new update about other risks most market participants have been blindsided crops up)


www.kitco.com/commen...Weigh-Gold-Down.html

Kommentera:

Manually closed the trade to lock in some gains on 1st target. Might re-enter again later after NFP news.