DragonCaptain

CHFJPY TRADE ANALYSIS 🔔

FX:CHFJPY   Swiss Franc / Japanese Yen
Prices are trading below the median regression of the 108.65-114.48 leg. Thus, we will focus on the 115.99 support bounce, or break, first. The depth of the downplay will depend on the firmness of the said support. A break will bring the 38.2% Fibonacci of the 108.65-117.61 leg back in play. This could act as a confluence level between the median regression and the Fibonacci level. However, it could ruin the hidden divergence shown on the momentum indicator. Therefore, we expect the decline to last shorter on divergence and channel-test expectations.

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