Weekly level reaction
I was bearish on CHFJPY until I saw that after the break of the 111 level the buyers stepped in and pushed the price above the level forming a bullish engulfing. There is also a channel break. This might be a sign of a corrective move starting. I will also watch carefully 122.50-113.00 zone, for any signs of trend continuation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.