Today in forex trading the CHF/JPY had a buy signal on The Forex Heatmap®. The Japanese Yen (JPY) was weak on all pairs, driving price movement and trading opportunities. There was also some CHF and CAD strength in the market today. This drove the CHF/JPY into the resistance area at 116.50. We would scale out lots or exit at this heavy resistance level. The CAD/JPY also moved higher and although the trend is still strong on this pair, it also has levels of resistance nearby just ahead of the current pricing. The trade signal system you see below for the JPY pairs is The Forex Heatmap®, it gives live signals on eight major currency groups and 28 pairs. It works on the principle of parallel and inverse analysis and currency strength.
CHF/JPY Trade Signal 9-18-2014