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Swiss Franc / Japanese Yen

CHFJPY continuation move

By FibsNProfits
Updated
Probably one of my favorite pairs to trade because of the clean schematics it presents. We confirmed last week a re-accumulation by breaking the 135.600 area. I was waiting for price near the 133.800 area for evidence of buyers accumulating orders to continue CHFJPY`s massive bullish move. During London PA, we saw that evidence and on LTF`s the presence of yet another clean type 1 accumulation. My entry was based of my Slingshot area (re-accumlation) and the extreme of the type 1 as a test of my spring. Price gave a very nice reaction from my SC. My further expectation is now to play a test of the larger schematic with targets above 136.200. If price fails to make that high and instead trades lower, I will look for price to show the same signs around 131.500-132.500.
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accumulationCHFJPYreaccumulationSupply and Demand
FibsNProfits

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