FxWirePro: CAD/JPY’s Interim Bulls Seem Deceptive, Major Downtrend Still Imminent On Head & Shoulder Pattern – Trade & Hedging Setup
FxWirePro: USDCHF trades in narrow range, any violation above 0.9920 targets 0.99780
Ichimoku Analysis (Hourly chart)
USDCHF has broken minor resistance at 0.99140 after a long consolidation. It hits an intraday high of 0.99181 and is currently trading around 0.99174. The slight pessimism in US-China trade talks is putting pressure on this pair at higher levels.
The near -term major intraday resistance is around 0.9920, any violation above will take the pair to next level till 0.99525/0.9978. Major trend reversal only beyond 1.0030.
On the flip side, 0.9890 (Cloud bottom) will be acting as minor support and any indicative break below targets 0.9870/0.9840. Minor bearish continuation only beneath 0.9840.
It is good to buy on dips around 0.9908-10 with SL around 0.9885 for the TP of 0.9978.