Short

CHFJPY Sell opportunity.

The CHFJPY pair is trading on a Falling Wedge pattern, which every time it formed within the long-term Channel Up, it was followed by a sharp decline. The last one hit the 1D MA200 (orange trend-line), which has so far held twice, rendering it the new Support level.

Notice that all those tops, had a similar 1D MACD structure. As a result, we turn bearish on the short-term on CHFJPY, targetng 169.000 (1D MA200).

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