Swissy Yen Reversal or Breakouts

Good morning dynamic traders.

We are taking a trip to Niagara Falls today but unfortunately the weather is not as pleasant as it has been until now so this gives us a little more time for our currency analysis.

Doing our forex analysis this morning (EDT) there are a few charts worth looking at and we have placed a number of limit orders.

The CHFJPY chart below has numerous set ups and for shorts or even for a long with reversals in place. Following the trend trading methodology we have a short set up tied in with a limit order with a small stop loss.

Should this currency cross produce a bull flag and reverse then a long should be called in to action again with a well placed small stop loss but take note of th moving average.

Our swing trend trading system model is calling for a short on this cross but has not given a trigger and as we will not be able to monitor this possible set up it system has been turned off fr the time being and we will continue to trade this using discretionary trading.



CHFJPY Advanced Get Chart. Data provided by eSignal.

Good trading...

Javid Shaik
Forex Analyst