CHFJPY SUPER SELL SCALPHi Team,
Technicals:
Good 1H rejection wick from daily descending channel resistance, with lovely 4H wick.
Pair is obeying these outlines very clearly at present.
Fundamentals:
CHF being a "safe haven currency" means that we can expect weakness soon, given USD drive this week. There is a temporary hold because of JPY YOY interest rate decision that is expected in a few hours. I expect either no change or positive drivers for the YEN, which should see this pair fly down once it starts to move.
NEWS
0100 GMT we will see high impact YEN news - release of year on year interest rate changes. The BOJ has been holding off raising interest rates for some time now. I expect either a static rate, in which case the pattern should hold, or a raise, which will be good for the yen and see the pair fly.
High probability. Clear invalidation. Let's go!
DrBEar
