Yen hitting resistance

Good morning.

The USD/JPY is hitting the moving average now with divergence still in place.


Chart courtesy of Advanced GET. Data provided by eSignal.

The USD/CHF has a triple top formation so once again it is best to wait for a reversal or BoB. You can read the Swissy forex analysis from 13 days ago here.

The Euro halted it's downtrend at the trendline with a spike to the previous support. We may have a reversal at this point but it is too early to identify that with clarity. However, aggressive traders may find an opportunity here but we would wait to be able to use our ESLT.

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Forex Analysts
Javid Shaik & Anne Chapman