CHFJPY: Thoughts and Analysis

EIGHTCAP:CHFJPY   Swiss Franc / Japanese Yen
Today's focus: CHFJPY

Pattern – Ending Diagional
Support – 167.50
Resistance – 169.40

Hi, and thanks for checking out today's update. Today, we are looking at CHFJPY on the daily chart.

Today's video asks if CHFJPY will continue to move lower after breaking out of an ending diagonal pattern. These patterns are seen as reversal patterns. We have broken down the trend structure and what we are looking for to see a confirmation of the pattern.

The Key for us will be move-through support. If Sellers fail at support, look for a new move back through resistance, which could cause a failed pattern trend continuation.

What do you think? Could this be a reversal?

Good trading.


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