Razvan

CHFJPY - Symmetrical Triangle

Long
FX:CHFJPY   Swiss Franc / Japanese Yen
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3
The yen is still strong for Japan's economy. Even though they said that the monetary easing, FED's style, will start in 2014, they still have to weaken the yen. Looking on the CHFJPY chart we can see a triangle consolidation right at the trend line . A close over the upper line could signal a continuation of the trend and the first target would be 98.20. On the other hand, if something bad happens and the risk aversion will come in place then we might see the 94.70 or 94.00 tested.

Comments

The target was hit pretty nice :)
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Two highly controlled currency. A very risky game.The concept of breaking the top of agree. I prefer to play on the EUR / JPY
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