FxWirePro: CHF/JPY forms Bearish pattern, good to sell on rallies
Harmonic Pattern formed = Bearish AB =CD pattern CHFJPY is continuing its winning streak for consecutive two days and pair hits high of 115.93 at the time of writing. It is currently trading around 115.57. Short term tre…
CHFJPY is continuing its winning streak for consecutive two days and pair hits high of 115.93 at the time of writing. It is currently trading around 115.57.
Short term trend is slightly bearish as long as resistance 116.35 holds. Any break above 116.35 will take the pair to next level till 117/117.50.
On the lower side, 115 will be acting as major support any violation below will drag the pair down till 114/11.350.
Overall bullish invalidation only below 112.50.
It is good to sell on rallies around 115.85-115.90 with SL around 116.35 for the TP of 115/114.
