CADCHF is trading within a descending structure which recently rejected the bottom and has been moving to the upside. The overall structure is a bullish reversal structure and traders anticipate a breakout to the upside. At the moment the market is trading at the resistance zone. A break above the zone as well as the structure will confirm bullish momentum however, a rejection from the resistance zone could see a continuation to the downside.
Similar to CADCHF, USDCHF has the same structure as well as similar zones within the structure. Traders anticipate the U.S Dollar to continue the strength and for USDCHF to reverse to the upside. At the moment the market is trading at a resistance zone which is close to the top of the structure. A break and close above the zone and structure will confirm bullish momentum.
USDJPY has been creating a series of higher highs and higher lows since it rejected the support zone around 132.500. At the moment the market has created a new higher high and is forming a bullish continuation pattern. Traders anticipate USDJPY to continue the uptrend and will start looking for bullish trading opportunities when the correction completes.