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Whether you like trading the majors or prefer currency crosses, I got yo back with these hot forex trading opportunities on USD/JPY and GBP/CHF.

GBP/CHF: 1-hour

GBP/CHF 1-hour Forex Chart
GBP/CHF 1-hour Forex Chart

First up is a nice and simple trend trade on GBP/CHF. As you can see, the pair is testing the 1.1850 minor psychological handle.

What makes the retest interesting today is that it lines up with not only a rising trend line, but also a 50% Fibonacci retracement, the 100 SMA, AND a previous resistance area. Of course, the fact that the 100 SMA has crossed above the 200 SMA is pretty convenient, too.

Will the pound extend its uptrend against the franc? Buying at the earliest signs of bullish momentum would give you a good reward-to-risk ratio especially if you aim for the previous highs near 1.1930 and place your stops just below the trend line.

Not feelin’ like buying the pound these days? That’s fine, you can also wait for GBP/CHF to break below the trend line we’re watching and execute a downside breakout trade instead.

Just make sure that you have a trading strategy in place that you know how to manage your risks, alright?

USD/JPY: Daily

USD/JPY Daily Forex Chart
USD/JPY Daily Forex Chart

Here’s one for the dollar bulls and bears out there! USD/JPY can’t seem to get past the 106.75 mark, which isn’t surprising since it lines up with a 38.2% Fib retracement AND the level has been holding as resistance all month.

But wait, there’s more! If you squeeze your daily charts just right, you’ll also see that there’s a low key bearish divergence on the chart.

The 105.00 handle is a good place to gun for if you think that 106.75 will hold for another day and decide to short at current levels.

If you’d rather buy the dollar, though, then y’all might want to wait until USD/JPY clears above the Fib retracement levels before you pull the trigger on your long dollar strategies.

Whichever bias you’re trading, make sure you leave enough room in your stop loss placements for volatility! You never know when a rogue headline or two would induce spikes on yen pairs like these!

Forex Chart Settings:

Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line