Both JPY pairs opened yesterday became unexpectedly volatile, leading to losses. One reason for this is that there is a simply a temporary sideways movement taking place before the breakouts resume their uptrends. Once another strong set of signals appear to go long, it could be another opportunity to garner some pips to recoup the losses incurred.
The same situation appears to be happening on the AUD CHF which has also broken its Pennant pattern. The currency has pulled back in favour of the AUD but once another strong entry signal to go short appears, gains for the CHF and short positions are expected in the days ahead.
The USD CAD trade is still open and if the signals in favour of the USD continue, the target should be hit this week.
The same situation appears to be happening on the AUD CHF which has also broken its Pennant pattern. The currency has pulled back in favour of the AUD but once another strong entry signal to go short appears, gains for the CHF and short positions are expected in the days ahead.
The USD CAD trade is still open and if the signals in favour of the USD continue, the target should be hit this week.
