A Blog of Commentary and Ideas from an FXstreet Premium Member by 
Greetings, Everyone and Welcome to Tuesday!
We closed the U.S. Session with no real “remarkable” Data, Behavior, or Events to speak of ( hence no U.S. Close Post from me … ), and we are simply still working with Risk Aversion on the back of Strengthening Dollar and Yen Tendencies at this point.
The Negativity “bleeding out” from Wall Street is seeing Depreciation in the Yen Crosses, especially, as of this Writing. While the IntraDay Behavior may look “extreme”, we are still adhering to Support and Resistance Levels as most Units see Downtrend Channel Behavior in the Immediate-Term.
We check in with the GBP/JPY again, as well as bring in The USD/CHF to check on the “Dollar Strength” of this Risk-Averse Equation.
Here are the Hourly Views, so give them a Click for Various Levels with Commentary above, and Post-Time is 1:30 GMT.
The Pound Yen sees Continuation of the Right-Shoulder Depreciation we spoke of in the 15:00 GMT Post yesterday, as the Daily Head and Shoulders Formation continues.
Price is resting on the 38.2% Fib Variant with Dynamic Support at the 155.80’s Area. A Correction “north”should see the 157.30’s Resistance and if Rejected… Price sees a Bear Flag Hourly Formation from the 159.60’s Highs.
If Violated, the “loose” Hourly Triple-Bottom Formation may see Price climbing back to those said Highs in the Near-Term.
Flag Continuation sees the 155/154.80’s Clipped to the Downside as Bearish Sentiment continues.
The Swissy sees Bullish Sentiment on the Hourly View in a Clear Uptrend Channel, albeit somewhat “Mixed” with the Ranging Consolidation from the Hourly Double-Bottom Formation.
Fib Variant Confluence Areas are providing Dynamic Support and Resistance, while Bullish Sentiment will remain out of the 1.0760’s-1.0890’s Range if the 1.0920’s Resistance is Seen and Held in the Near-Term.
Please come by for a visit for the 6:30/7:00 GMT “Currency Majors Technical Perspective” Report, for some Immediate-Term Techs on the Four Majors. A Blog Update will follow, as usual, so I hope Everyone will come by as we move into The Day!
