CHFJPY: Waiting for Breakout

Jan 22, 2021

CHFJPY is currently trading within a wide horizontal trading range on daily.

For intraday trading opportunities, consider its boundaries as safe places to buy/sell.

To catch a new swing, though, we must wait for the breakout first.

In case of a daily violation of its resistance (daily candle close above), bullish continuation will be expected to 118.5

In case of a bearish breakout (daily candle close below its support), bearish wave will be expected and goal will be 115.3.

Wait for the decision of the market participants and then follow!