HayeTrading

CHFJPY Correction Incoming!

Short
OANDA:CHFJPY   Swiss Franc / Japanese Yen
CHFJPY has met it's long term upper trendline, is showing oversold on the Daily RSI , 4H and 12H, and even the weekly RSI is at 69.98.

We also see strong bearish RSI divergence on the Daily.

JPY has been the biggest loser of the major currency pairs in the past month and in fact the past year, but for shorter term outlooks JPY looks due for a correction against a number of other currencies and my targets of choice are CHF and possibly USD.


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