Forex forecast / CHF/JPY / Our expectations
Middle-term upward trend, higher tops. Correction of the middle-term movement gives us possibility for positioning with long position. Break of the resistance of the correction and FiBo 38.2. Test of the break is giving us better price for entry. The price is above SMA 200/50. Technical indicator CCI(50) - above level 0 , when break level 100 the positive sentiment will increase.
Alternative scenario: If the price pulls back into the descending channel, the correcting will deepen and we will see new descending impulse.
SL: 114.80
Trader Bozhidar Arabadzhiev
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