Indeed, time DID tell. USDCHF finally reversed course at 0.8954. That was a mere four pips above the top of the support zone I pegged at 0.8950. However, eight-hour price flow has transitioned from bullish to neutral, so I wouldn't be surprised if the 0.8987 mark is as high as it's going. USDCAD displays pretty much the same situation.
The following forecasts are based on the result I got when I morphed my hourly charts with the Moving Average MACD Combo trade strategy that Anthony Prescott describes in his book on Forex trading which I "reviewed" in the Educational Resources forum. Acting on the contention that one should be in the market only when "all the stars are aligned," this is what that modus operandi would recommended... All but the four-hour AUDJPY trend is bullish, so buy when the hourly trend line crosses above it (and pulls it upward). Everything about GBPJPY is bullish. Consequently, it is a buy @ 166.62. However, you should bail if the four-hour price flow should decide to head south temporarily and reenter a long position if and when all measures are once again pointing north. USDCAD and USDCHF are both looking at very bearish three-day baselines. You should therefore look to sell them as soon as the four-, eight-, fourteen- and sixteen-hour baselines are ALSO all sloping downward.
The above plan was scratched six or seven hours ago when candlesticks crossed above the eight-hour baseline (11 or 12 hours ago in the case of USDCAD).
So... for the time being USDCHF has transitioned to a bullish attitude, to the point that the daily trend line is now curving north. Nonetheless, the "controlling" measure, which is to say, the three-day baseline, is still angled downward. So long as this is the case, it must be assumed that the pair will eventually turn south once again, with greater and greater pressure to do so the higher it climbs above 0.9000 (if it manages to reach that level). Of course, if and when the three-day baseline ALSO turns north, it will be an indication that the pressure actually switched from downward to upward.
Seeing as how the 72-, 24- and 14-hour baselines all remain bullish, theoretically, it would make sense for the Euro-Yen to continue climbing from 147.19...
Waiting for EURJPY, AUDJPY and GBPJPY to turn north once again and make money by recognizing when the bona fide trigger signal sounds has led me all the way back to a scalping style of guerrilla trading to guaranty daily profits by trading both on the way down AND on the way up.