The BoJ meets next week. Governor Ueda last week signalled no change in policy. The cross is technically stretched so a correction could be overdue. However, it is difficult to envisage a sustainable turnaround until the BoJ raises rates, abandons YCC or the SNB sells Swiss Franc. Neither of the three scenarios looks plausible in the near term.
BoJ intervention last year in
CHFJPY
largely passed
CHFJPY
so we should not overplay downside if the central bank decides to sell USD above 150.
🔽SELL CHFJPY zone 168.550 - 168.700
SL : 169.100
TP 1 : 168.200
TP 2 : 167.900
TP 3 : 167.600
BoJ intervention last year in
CHFJPY
largely passed
CHFJPY
so we should not overplay downside if the central bank decides to sell USD above 150. 🔽SELL CHFJPY zone 168.550 - 168.700
SL : 169.100
TP 1 : 168.200
TP 2 : 167.900
TP 3 : 167.600
