CHFJPY has been on a consistent uptrend on all of the higher timeframes, and has just now found some resistance. The retracements on the higher timeframes have been around the 61.8% range so that is what we are looking for moving forward. On the daily chart we have broken structure to continue the sell until the end of this overall retracement zone.
Expecations: Market is going to retest the previous break of structure on the daily chart. This zone also has a diagonal daily trendline, an H4 demand zone and a liquidity key level within that zone. Market will snipe the liquidity key level and then continue selling following the rest of the overall markets retracement.
Expecations: Market is going to retest the previous break of structure on the daily chart. This zone also has a diagonal daily trendline, an H4 demand zone and a liquidity key level within that zone. Market will snipe the liquidity key level and then continue selling following the rest of the overall markets retracement.