CHFJPY - Broke out Ascending Triangle
CHFJPY has broken out of the ascending triangle it has been forming for about 8-9 weeks.
Momentum is purely on CHF side, even though 10 year yield spreads are moving lower between Suisse and Japan.
It's hard to say whether Japan will ultimately get off the negative interest rate environment.
Spring wage negotiations have become so will have to wait.
Technically this is very bullish. Fundamentally I have an even bias.
Suisse inflations came out in line and its more the rental market focus on their end now.
The economy is doing ok. European recession fears and rate cuts would favour Suisse flows.
Geopolitics with oil tanker attack should favour more Suisse upside as risk off sentiment prevails.
Stops at 169.6
Target at 177-178 (will update).
Momentum is purely on CHF side, even though 10 year yield spreads are moving lower between Suisse and Japan.
It's hard to say whether Japan will ultimately get off the negative interest rate environment.
Spring wage negotiations have become so will have to wait.
Technically this is very bullish. Fundamentally I have an even bias.
Suisse inflations came out in line and its more the rental market focus on their end now.
The economy is doing ok. European recession fears and rate cuts would favour Suisse flows.
Geopolitics with oil tanker attack should favour more Suisse upside as risk off sentiment prevails.
Stops at 169.6
Target at 177-178 (will update).
Trade closed: stop reached:
Got stopped out.
Will try again!
Will try again!