Chart Art: Trend Retracement Opportunities on USD/CHF and NZD/JPY

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Feeling salty about your crypto portfolio?

Try your risk management moves on these forex setups instead!

Take a look at USD/CHF and NZD/JPY‘s trends and see if you can bag some pips today.

USD/CHF: 4-hour

USD/CHF 4-hour Forex Chart
USD/CHF 4-hour Forex Chart

The dollar is poppin’ up interesting dojis just under the .9050 minor psychological handle!

As you can see, the area lines up with not only the 61.8% Fib retracement of the last downswing, but also a channel resistance that hasn’t been broken since late April.

Can dollar bears maintain their momentum this week? Shorting at current levels would yield a good risk ratio if USD/CHF falls back down to its May lows.

If the bulls win this round of tug-o-pips, though, then you might want to anticipate a trip to the 4-hour 100 SMA and the .9140 key inflection point.

NZD/JPY: 4-hour

NZD/JPY 4-hour Forex Chart
NZD/JPY 4-hour Forex Chart

Not a fan of dollar pairs? No worries, I gotchu!

NZD/JPY bounced from the 78.00 psychological area that lines up with the 200 SMA on the 4-hour time frame.

While it’s just below a key channel support, the bullish divergence on the chart tells us that it’s still possible to see NZD/JPY extend its uptrend in the next coupla days.

Buying at current levels or as soon as NZD/JPY pops above its trend line support would make a good entry point for when the Kiwi makes new May highs against the yen.

If the bounce from the 200 SMA turns out to be a dead cat bounce, though, then you can prepare for a longer-term reversal that would take NZD/JPY back down to areas of interest like 77.50.

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