Chart of The day $CHFJPY

On the CHFJPY chart, we can see that the instrument is retesting the broken long-term uptrend line 113 level near the 50% of the Fibonacci retracement 113.527 level. The pair has formed a visible rising wedge formation, usually bearish, with the lower uptrend line 111.460 level.

Note: look for the short trade entries with the stop loss above the 113.500 level.

 

 

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