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Chfjpy!

CHFJPYGood morning traders. I see that CHFJPY is inside a triangle. It could break either way. During Friday 21th of October the huge reversal has not retraced to 50% of Fibonacci, so I am expecting to see something like that. In the break of support+trendline, a nice short entry as sell limit would be a strong setup. However, there is a Huge liquididty left in the monthly chart - January 2015 in price area of 157.6 So, if price breaks the 4H resistance and respects the trendline along with general structure and sentiment keep the long posistions increasing, I beleieve the pair will visit at least 155 price area.
Short
by The_Forex_Path
CHFJPYHello traders. I see CHFJPY has performed a retacement chasing the highs. However, I see a losing steam of power for the pair and a daily trendline which is now broken. Price may trap traders with upside momentum, which I believe will be limited. Perhaps the price will try to test POC of Volume Profile and the Daily Demand Zone which is in confluence with 50% Fibonacci retracement level. On the way dowb there, there are miscalleneous scenarios related to price action, how the price will react bounce back/breakdown and diffrenet price levels for profit targets. Good Luck!
Short
by The_Forex_Path
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