CHF/JPY trend line analysis.
Technicals
*Weekly stochastic over sold/ Daily and 4hr indicators are in over sold correlation also.
*Price is narrowing within the channel signaling a potential reversal.
*The NKY index is starting a long term retracement, which give CHF more strength.
*Trend lines from different price swings indicate where some of the starting and stopping points will be for this channel breakout.
Approach
*Aggressive- Buy at the first sign of weakness in the candles.
*Safe- Wait for the termination for the first impulse and retracement on a smaller time frame where you get a higher low.
*Weekly stochastic over sold/ Daily and 4hr indicators are in over sold correlation also.
*Price is narrowing within the channel signaling a potential reversal.
*The NKY index is starting a long term retracement, which give CHF more strength.
*Trend lines from different price swings indicate where some of the starting and stopping points will be for this channel breakout.
Approach
*Aggressive- Buy at the first sign of weakness in the candles.
*Safe- Wait for the termination for the first impulse and retracement on a smaller time frame where you get a higher low.
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