CHFJPY getting ready for a bullish move?
The chart patterns present on the CHFJPY Daily tf are shown in this analysis with an inverted, complex Head and shoulder pattern (or inverted, complex Head and shoulders bottom) captured in this analysis between March 23, 2018 and till present date.
A close above the neckline at ~112.21 confirms the pattern. Distance from the neckline (112.21) can be subtracted from the pivot used for the Head and then added to 112.21 on a break above the neckline to determine a likely end point for the bullish move based on the pattern (i.e. inverted, complex Head and shoulders bottom).
Also shown in this analysis is a bullish price channel (in black) color that should be paid attention to as it also can be useful in determining resistance or supply area in the CHFJPY.
A close above the neckline at ~112.21 confirms the pattern. Distance from the neckline (112.21) can be subtracted from the pivot used for the Head and then added to 112.21 on a break above the neckline to determine a likely end point for the bullish move based on the pattern (i.e. inverted, complex Head and shoulders bottom).
Also shown in this analysis is a bullish price channel (in black) color that should be paid attention to as it also can be useful in determining resistance or supply area in the CHFJPY.
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