CHFJPY setting up for a nice 25-50 pips to the upside. Structure says, we'll be looking for the 4th wave completion to the top of the current channel. Once we break out of the current , we will have 2 targets @113.05 and 113.25-40 level.
Next week, we'll be waiting for the move out of the CHF once they reach the 0.9000 psychological number.
Keep in mind we are still inside the current ; but a good entry to the LONG side still exists. It appears they have found buyers at the 112.60 level.
A good potential entry would be: LONG @112.60-50 levels STOP @112.20 TARGETS @113.05 - 25
Next potential set of buyers likely will be at the 1.618 Fib extension @112.40- So we might still have some small room to the downside.
As always confirm your entries by going into your 60-min chart and 10-min --- look out for technical patterns that will confirm the move to the upside.
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