FX:CHFJPY Swiss Franc/Japanese Yen
CHFJPY established a strong trend down and should be ready for the final wave down to test 126 target area. I have two scenarios, Scenario 1 is that the rate will start going down from the current point, but considering strong yesterday's drop, its likely that there will be some consolidation. The Scenario 2 suggest that after consolidation at the next cycle up (which should fail and become cycle down) at 04:45 AM, 29.07 CHFJPY fall will continue. In my opinion it should be the ideal time to short at the established area of resistance for the fast and low risk profit.