Franc Swiss / Yen JepunPanjang
ORBEX: CHFJPY - Open Triangle Top Trendline Penetrated!
It looks like the corrective wave (2) of the bullish intermediate degree has ended at 106.74 with an open triangle pattern formed in minor wave C of the A,B,C correction. The recent breakout outside the triangle barriers looks impulsive (as seen in minute 5-wave upside move) and fresh highs could be expected.
In the short-term, we could receive a brief pullback before continuing higher to take out minute wave (iii) near 109.40. Or, we could get there first and then receive a pullback.
Minor wave 1 is expected to end near 110.23 and as part of the intermediate impulse to the upside, minor 5 has a long-term potential above 120.00.
This opportunity would be invalidated below 108.00. A break above 109.10 and then 109.57 would be validating the longer-term outlook.
Stavros Tousios
Head of Investment Research
Orbex
In the short-term, we could receive a brief pullback before continuing higher to take out minute wave (iii) near 109.40. Or, we could get there first and then receive a pullback.
Minor wave 1 is expected to end near 110.23 and as part of the intermediate impulse to the upside, minor 5 has a long-term potential above 120.00.
This opportunity would be invalidated below 108.00. A break above 109.10 and then 109.57 would be validating the longer-term outlook.
Stavros Tousios
Head of Investment Research
Orbex
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.