as we can see here on the CHF/JPY
chart, that the yen has been trading weakly against the Swiss franc
, and the market had been previously trading in a downward funnel for a while. the market was trending down and moved into a strong support zone
, then from here, it moved its momentum sideways into consolidation, after a double top
/ 2 triangles were formed as a sign of new market structure being confirmed. the market made a strong move to the top resistance trend line
, then broke through to then give a small test with an engulfing
candle. finally for the market to then move further and now hopefully moving into new areas. now with more comfimred structure and future market retests we will be placing a buy for the market to potentially be moving into new areas.