Alex_Tweed
Short

Break below the support level

FX:CHFJPY   Swiss Franc / Japanese Yen
The CHFJPY has broken below the area of support and is looking towards the downside. The area of support (now turned resistance) area has already been tested once so there is a possibility that this area can be tested again. However, for the long term i think the price will fall slightly before starting to consolidate. I wouldn't trade this position right now as i would wait for the correct setup to happen, but i think in the longer term the price will continue to fall.
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