CHFJPY One break-out and one pull-back buy level.

Jun 3, 2022

The CHFJPY pair has done brilliantly since our last analysis, giving a perfect sell and then rebound at the bottom of the Channel Up:

Right now the price is approaching the top of the Channel so it is best that buy profit is taken. A break above the Higher Highs trend-line of the pattern at 138.500 would be a buy continuation signal. If rejected though, it is best to wait and buy again closer to the Higher Lows (bottom) trend-line of the Channel Up. In either case, our Target is the -0.5 Fibonacci extension, which is currently around 144.440. As this chart shows, the -0.5 Fib has been the Higher High target since 2021.



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