Forex Outlook 15 Jan 19


CADJPY – 4 hour chart: Price reversed from a daily support level and it broke out of a descending trend line and has formed a bullish flag.
Price is currently making a 4 hour bullish corrective structure at the 23.6% Fibonacci level and it has the potential to make an upside continuation move towards the weekly resistance levels.

USDJPY 4HR Time Frame

Price is currently trading in a corrective bearish channel and push to the upside towards the 50 Fibb level and from there I will asses if there is a bearish indication or whether the push will go up to the weekly resistance zone.

NZDJPY – Weekly timeframe:

1- Support zone,
2- Descending channel,
3- Previous 2 weeks have been bullish ( Hammer and Bullish Engulfing )
Price reversed from a support zone and it’s currently moving within a corrective channel on the 4HR Time Frame.
Price has the potential to move higher towards the weekly trendline resistance zone


CHFJPY Daily Time Frame

Price broke out of a bullish channel and after it retested the support now resistance zone it pushed lower and is now creating a corrective flag. This flag confirmation could see price correct itself to the 111.736 Zone before further bearish momentum kicks in.