CHF/JPY

[RVD Support 8]

This Thread is made for the discussion of CHFversus JPY
You can give here forecasts, explanation about the market And Technical Analysis.

[topman]

CHFJPY,H1
Date 2013.06.26
Time 11:00
-------------------
R3 106.2060
R2 105.6020
R1 105.0800
Pivot 104.4760
S1 103.9540
S2 103.3500
S3 102.8280
-----------------


Pattern : ABCD Bullish.
Description : The price almost form a complete ABCD pattern here, and then continue bullish again.
Expectation : Arise to 105.321, and exit the buying projection when it crossed 103.160.

[saiansh23]

yesterday break below 104.10 really trigger the short entry for the test of 102.70 area with stop around 104.70 so very good risk reward entry But we need to take one thing in Mind that if you are looking for best entry in the pair then we must break below 97.56 which will click the panic in the pair and for a last decline towards 92.50 where the wave will be 38.2% of the whole rise from bottom to top So please be patient or took the risk of 60 to take 130

regards
check the chart

[saiansh23]

Sentiment has changed But I have an alternate count as well till the time it is trading below the X wave I wont change my sentiment for a break below the Low of X wave and then towards the correction But if we manage to break above the previous Swing X wave Then the sentiment would be towards the earlier completion and towards the wave 3rd of on larger degree to test the highs and above

check the chart
Regards
SAIANSH

[topman]

Today we have a bullish setup here, base on technical analysis. First, we see the trend tunnel slopes is move upside to give a bullish signal then see the wave formed there. Accordance to the wave signal, we can take long position (Buy) now and make a target at 105.110 or 105.358 as the exit point here. For a stop level we can setting 104.043. Please be noted, after the price reach the stop level then it is potential back into bearish trend again.

[saiansh23]

As we have already entered in the complex correction of Wave 2 I am expecting a break above 105.00 to move towards 106.60 which should be the high of wave X and Then we probabily will see the donwside pressure from there But we must break below the 103.10 the low of this swing and confluence to confirm that wave C and wave X is place with simple abc zigzag correction And the last and final powerful wave is testing the area of recent lows

regards
Check the chart

[topman]

So far, CHF/JPY is still in bullish trend and it is expected to reach barrier 105.852 or 106.521. Exit from bullish setup after the price breakdown 105.172 because it is potential for bearish to test further downside target at 104.118. For the deeper buying, we can use 104.118 or 103.446 as the entry point there. Please see on my chart and give your opinion here :

[saiansh23]

The pair has momentum after the last time I mentioned that we are in wave C but iT can find reistance here
at 105.34 and then manage to break below 103.70 and then surely will be a test of the lows
But wait and watch if this area hold
Regards