4H Consolidation: The 4H chart shows a market that has been consolidating. The 200-4H SMA has been sideways and price has been held under 107.56. In the 9/18 session we saw a bullish breakout until the 9/19 session, where it is finding some resistance at 109.4o, but it hasn’t retreated much. The CHF/JPY is now at a 23-yr high. The 4H stochastic and RSI readings do show short-term overbought conditions. If there is a throwback, it should be noted that the breakout we are seeing is of a greater significance than shown in the 4H chart. Daily breakout: The daily chart shows the market breaking out of a consolidation ... (full story)