A great opportunity to go Long CHFJPY Long
Swiss Franc/Japanese YenFXCM
Description
⋅ Reasons for this trade:
1) CHF has been depreciating since FEB and now it is at a major support
2) I expect Yen to be cheaper. Target the next major Fibo overlaps
3) Price is at the lower parallel of the Schieff Pitchfork. Target is Fibo overlaps and stop is below the most recent major swing low Comment
⋅ I might get into this trade next week. R R is one to one though