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Forex Price Action Commentary - USDCHF & GBPJPY

To start off this week we are looking at two charts, firstly the USDCHF weakness we've been seeing the last few weeks has just seen the market break through an important weekly support level.

waiting for usdchf price action signal

We are waiting for the market to rally up and test the old weekly support level. This would be a nice spot for a bearish price action reversal signal to form.

Also we are watching a double inside day setup which has formed on the GBPJPY pair.

gbpjpy double inside day price action breakout setup

It looks like this market wants to break higher. Double inside day setups are one of our favorite breakout catalysts and can produce shocking powerful breakouts. Like this one double inside day breakout that occured on AUDCAD recently.