CHFJPY DOWNTREND CONTINUATION

Nov 13, 2018

CHFJPY higher timeframe downtrend looks set to continue as the 4hr chart technically has moved back into a downtrend with price forming lower lows and lower highs. If the market continues to downtrend we should see a continuation of this market formation down to the key support of 111.85. Applying our fibs we can see 38.2 fib retracement lines sits slightly above the key lows at 112.96. Looking for the market to retrace to the resistance before continuing lower.