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Trade in focus: CHFJPY
Michael McKenna
Head of Editorial Content, Saxo Bank
Summary: Saxo's Trade Signals tool has identified a potential break through resistance to the upside in CHFJPY. Here, we take a look at the signal provided, as well as the parameters of the potential trade.
On Monday, we observed that Saxo's Trade Signals tool had identified a potential downside break out of a rising channel in AUDCAD, which traded at 0.9495 as of publication. The pair dropped to 0.9440 in Tuesday's session before rebounding slightly to trade at 0.9448 this morning. The pair remains to the downside of the observed rising channel.
Saxo's Trade Signals tool has identified a potential upside break out of a falling wedge formation in the relatively low-profile CHFJPY pair. The tool gives a probability of 66% to this analysis, with this measurement evaluated against past performance over six months with respect to this pattern type.
Saxo's Trade Signals tool has identified a potential upside break out of a falling wedge formation in the relatively low-profile CHFJPY pair. The tool gives a probability of 66% to this analysis, with this measurement evaluated against past performance over six months with respect to this pattern type.
