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forexwithfred

CHF/JPY - Clear Break & Retest Of Pennant!

Long
Swiss Franc / Japanese Yen (FX:CHFJPY)  
forexwithfred Updated   
FX:CHFJPY   Swiss Franc / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns CHFJPY chfjpylong chfjpyidea Symmetrical Triangle Bullish Patterns priceactionanalysis
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trendanalysis harmonicpatterns chartpattern chfjpy chfjpylong chfjpyidea symmetricaltriangle bullish priceactionanalysis
  • This pair has been ranging in between the symmetrical triangle pattern since the begining of May

  • Clear break & retest with bullish reaction to retest the gives me confidence in the CHF's strength against the JPY

  • 10 + 50EMA has had a bullish crossover and are both sloping upwards showing potential bullish bias

  • JXY Japanese Index has been indicating weakness for the whole week, lets while SXY Swiss Franc Index gaining bullish momentum

  • Wait for price action to see how this fairs out!
Comment:
Trade closed: target reached
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