CHFJPY forming a rising wedge Short

Swiss Franc/Japanese YenFXCM

Description

⋅ Jan 16, 2024 7:56 PM

A rising wedge is taking shape in CHFJPY, accompanied by a noticeable divergence on the chart. There's a likelihood of a reversal in the upward trend. I am prepared to enter the trade upon the breakout of the trend line.

I'm curious to hear your thoughts on this setup.

Cheers!

Comments

TheFxAce

⋅ Jan 17, 2024 2:10 AM

The reasons for potential decline are meticulously laid out.

hassanejaz1

⋅ Jan 17, 2024 8:34 AM

@TheFxAce, Thanks

shubhamusher

⋅ Jan 16, 2024 9:28 PM

No shorts in this month. BOJ meeting next week will be bullish for this.

hassanejaz1

⋅ Jan 17, 2024 8:34 AM

@shubhamusher, Lets wait and watch