Buyers have tried to break the trendline 3 times but still couldn't . Wait for proper confirmation...If buyer still could not break above the channel then look for SHORT opportunity up to 111.46...A retest of that strong level.
Reasons to go short - Overall trend is bearish Pulling back into a strong SR level (thin blue line) Last time it was at this level there was a strong sell off, the price is now coming back to test this area (yellow box) for the first time Yellow box is also a combination of fib levels from previous highs Good risk to reward
Entry: Wait to the price confirme in the Sell Zone (confirme the break out). TP1: 113.3576 TP2: 112;7113
I know CHFJPY is not a common pair but I can not leave it when I get a signals. Right now the market is on the resistance. On one hour time frame, the market formed a doji. It is having difficult in crossing that level. There is a high possibility the market will reverse and continue with downtrend. I will hold a little and watch how the volumes will appear and...
I have already entered this trade but I still think there is time. This year the SNB are going to be actively trying to weaken their curreny and the China slump will cause safe heaven flows through the JPY so overall downside is expected. Learn to trade like a pro boafx.com