Good day traders, we like to present you our swing view on USDJPY, GBPCHF for the day.
On the 4-hour chart, a sideways trend is forming. The pair is trading within a narrow range coupled by divergence sighted on the RSI , the sideways movement will likely remain in the short term as we target 106.50 zone, 50% of the overall rally for a bounce.
If this bounce is seen, we like to take a low risk entry following 123 entry parameter on hourly TF. Target for this bounce should be 119 zone with invalidation 105.25
On 4hr TF, this pair is forming a topside wedge pattern and coupled with a divergence on the RSI , we like to set a sell stop order @ 1.1985 with SL @ 1.2075 and target towards 1.1650.
As a quick one we like to say our OIL trade hit tp with 150pips
Running trades are GBPNZD short from 2.1000 we took a partial profit 200pips overnight and sl still at 2.1150 for the rest
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