CHFJPY: Zig-Zag Formation attracts Sellers'- Bearish.

Tradingwithtamil Updated   
FX:CHFJPY   Swiss Franc / Japanese Yen
Hello traders,

CHFJPY routing its move in the bear lane, In a 4 hr time-frame, CHFJPY seems promising for the sellers' Profitability. Overall Yen domination fluctuating the market in favour of sellers'. Currently, the pair marking its presence @ 113.034, the whole number magnets pulling the price range to the down with yen fundamental factors. Additionally, the pair forming a zig-zag structure( shown in the graph). A continuous decline after 113.163 could reach the 112.195 later the pair may tend a throwback action from 112.195 to fulfil the zig-zag formation. As a formation completion, the pair might target the 111.788.

On the contrary, if CHF gets any solid moves in the market, the dominance may keep the trend in upward. In this case, look for a reversal around 113.386 or else, end your trade @ 113.631.


Entry: 113.034

Tp: 111.788

Sl: 113.631

R/R: 2.07

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Happy trading.

Trade closed: stop reached


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