CHFJPY weekly insidebar fakeout - short
We had an inside bar last week and broke out to the upside on Monday, only to get rejected. Today we have seen the break of the opposite of last week's inside candle. Now a strong move to the downside can be expected - I suggest targets around structure at 112 or the 38.2 fib retracement. Aggressive traders could even look for previous highs from July at 109 as targets.
I am looking for a similar set up on EURJPY where we still need to break 122 though at the time of writing.
I am looking for a similar set up on EURJPY where we still need to break 122 though at the time of writing.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.