CHFJPY weekly resistance area
Updated
Hi there,
My big view on CHFJPY as follow:
CHFJPY is currently printing a weekly corrective wave B.
I can't claim that the B wave is over, only if it's makes a new weekly low to break the A wave low then I will be able to say that the B wave is more likely is over.
But, as I can see from the weekly chart, the PA is bouncing around the resistance zone (RZ), so I can sell from this zone every time then I see a sell setup.This RZ also can be violated by PA and price can go higher sharply, but as long as it is holding the RZ I am bearish on CHFJPY.
My big view on CHFJPY as follow:
CHFJPY is currently printing a weekly corrective wave B.
I can't claim that the B wave is over, only if it's makes a new weekly low to break the A wave low then I will be able to say that the B wave is more likely is over.
But, as I can see from the weekly chart, the PA is bouncing around the resistance zone (RZ), so I can sell from this zone every time then I see a sell setup.This RZ also can be violated by PA and price can go higher sharply, but as long as it is holding the RZ I am bearish on CHFJPY.
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