Silver started this week with a breakout of the lower line of the wedge, which in theory, gave us a strong sell signal. Buyers try to deny that today and they initiate a reversal, which potentially can create us a right shoulder of the inverse head and shoulders formation. For the proper buy signal, we need to see the breakout of the black neckline first
CHF/JPY is having a very interesting bearish situation supported mostly at the higher time frames. On the weekly chart, we do have a shooting star bouncing from the horizontal resistance. On the daily chart, we do have a false breakout above the orange area and on the H4 chart, we do have a head and shoulders formation. For the proper sell signal, we need to see the breakout of the pink horizontal support first.
USD/CHF broke the up trend line and is now testing it as a closest resistance. We are also in the flag formation so for the proper sell signal, we need to see the breakout of the lower line of the flag.