CHFJPY - 5 reasons to long chfjpy

FX_IDC:CHFJPY   Swiss Franc / Japanese Yen
93 2 1
1) Sitting at a previous structure/ demand
2) Price formed a falling wedge with the target above at the resistance which also a supply level on smaller timeframes
3)target is a 38.2 percent fib retracement level
4)Sitting ideally between the two trendlines that we are targetting
5) heavily oversold on stoch .
Agree, after the CHF strong impulse this pair is forming a consolidation pattern similar to a triangle (wedge). Regards.
+1 Reply
AkashGaur FullTimeTrader
yes lets see how this plays out. Best of luck :)
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