Hello traders! My analysis today is for CHFJPY. This week, I am seeing posibilities trading CHFJPY. In a higher timeframe, in my count we are in B wave, which could end now, or around 122.5 (in case B is 61.8 of wave A). We are currently at 50% and an ABCD pattern could have finished last Monday(2.24) or may arrive to the red area above (2.61). I will keep my eyes closely on this pair these coming days, and SELL it till the blue zone, as I will explain in the 30 mins chart at Pinoy Forex Club.
I marked with a circle that daily bullish engulfing in June around 0.381 where price tested that daily trendline before rallying up till last Monday. If price arrives and rejects that daily trendline, in the blue box at that important area, buyers will be still in control. Below that zone, sellers may lead the pair to close the GAP created in April at 109.4 and we may have started wave C (which could rally downwards to maybe 0.83) Get mentored with PFXC and learn how to trade profitably the Forex Market. DM me or visit www. pinoyfxclub.com for more info. Visit Pinoy Forex Club for entry price and short term analysis. Have a great week!