Our Expectations: CHF/JPY - The price reached the previous high at 114.200 and made a correction to the levels of a horizontal and diagonal supports. The price remains just above 50 EMA, which is a dynamic support in this case, and 50/200 EMA are in bullish formation. It is very likely that the price will stop declining and continue it's way up on the trend.
Alternative Scenario: If the price falls to the bottom of the previous bar, below 112.850 and under the diagonal support, this will break the bullish scenario and will probably give us a signal for a short position.
Commentary: JPY remains weak due to the heightened risk-appetite.
50SMA above 200 SMA - positive signal, confirming the rising trend.
DEM(14): The indicator reversed from the bottom, pointing for a rise
Senan Fuchedzhiev - Trader
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