The Swissy Yen.

Good afternoon Dynamic Traders,

Todays chart on the four hour timeframe is of the CHFJPY.

On the daily chart of this cross, you will see that at present there is a potential DT in the downtrending pair which is clustering at the V.I. and extension levels and also in the mix is MACD divergence.

If you now look at the image below, you will see the divergence here too, but not shown is the previous R/S level which you can put on whilst analysing yourselves.
On the four hour chart we have had a close above this level which could now employ the ESLT. for a continuation should the advance continue.

It could be however that this may be a 'pop and drop' as described in your Currency mentoring and webinars, which we will just have to await an outcome on.

Regarding confluences, there is a significant amount where price is standing, including the ones afore mentioned, the top end of the trendline channel, and a possible 123 situation.

This trend from mid March could be coming to an end soon or just having a breather but either way keep a close eye on this pair for some good gains in the near future.
















Charts courtesy of TradeStation.

Always enjoy your trading.

Clayton Farnworth.