CHF/JPY. Is it time to open shorts? Yes, but...
The Switzerland's currency was rising starting from 4-th October and now we see the possibility of a reversal
Technical factors:
there is a bearish engulfing candlesticks patter which was formed on the top of the trend
the price is testing the trend line with the possibility of a reversal
MACD lines are widening - this is the preliminary signal to sell
Summary: it is possible to sell after getting confirmation signals - the price has to break the trend line down (109,500).
Fundamental factors
On Thursday 24-th Manufacturing and Service PMI in Japan are being published. Manufacturing PMI is below the crucial level 50 and now is on 48,9 while Services PMI is still above 50.
Technical factors:
there is a bearish engulfing candlesticks patter which was formed on the top of the trend
the price is testing the trend line with the possibility of a reversal
MACD lines are widening - this is the preliminary signal to sell
Summary: it is possible to sell after getting confirmation signals - the price has to break the trend line down (109,500).
Fundamental factors
On Thursday 24-th Manufacturing and Service PMI in Japan are being published. Manufacturing PMI is below the crucial level 50 and now is on 48,9 while Services PMI is still above 50.