This pair has exploded upwards and needs a correction to the downside. It is massively overbought on W1, Daily, H4. H4 is showing divergence. The resistance at 148.85 is very strong and there is a nice harmonic pattern. Target 1 is about 500 pips away with an 80 pip SL.
Currently, the Japanese Yen is getting stronger, But against CHF its value will go down furthur.
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (107.87). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . CHFJPY is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...