CHFJPY: SNB rate hike; BOJ flat
SNB expected to raise rates
BoJ expected to maintain rates.
The Swiss National Bank (SNB) has a 40% chance of raising rates tonight. The Bank of Japan will not raise rates tomorrow. I expect the mega trend of CHFJPY to continue. I have entered a small position in advance of the SNB event in 3 hours. I will enter above the buy zone, as well. My stop is 162.50 and 163.60 as per the chart. Weekly KTS Slope is up. Daily pulled back to fib support and horizontal support. It has been consolidating for two weeks. The SNB interest rate event in 3 hours and the BoJ rate tomorrow could be the catalysts that continue the trend up. If not, my stop will tell me that I am wrong.
Trade Plan:
(1) Buy above buy zone if the SNB raises rates.
(2) Enter a small amount in anticipation of trend continuation.
Weekly KTS Slope: up
G-TAZ: Monthly and Weekly Bullish
Deeper pb
uHd
BoJ expected to maintain rates.
The Swiss National Bank (SNB) has a 40% chance of raising rates tonight. The Bank of Japan will not raise rates tomorrow. I expect the mega trend of CHFJPY to continue. I have entered a small position in advance of the SNB event in 3 hours. I will enter above the buy zone, as well. My stop is 162.50 and 163.60 as per the chart. Weekly KTS Slope is up. Daily pulled back to fib support and horizontal support. It has been consolidating for two weeks. The SNB interest rate event in 3 hours and the BoJ rate tomorrow could be the catalysts that continue the trend up. If not, my stop will tell me that I am wrong.
Trade Plan:
(1) Buy above buy zone if the SNB raises rates.
(2) Enter a small amount in anticipation of trend continuation.
Weekly KTS Slope: up
G-TAZ: Monthly and Weekly Bullish
Deeper pb
uHd
Ordem cancelada:
trade not triggered. Order cancelled..
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