CHFJPY Sell-off to be extended.The CHFJPY pair has been trading within a Channel Down pattern since the July 11 High and has currently already started the new Bearish Leg, having failed to break above the 1D MA50 (blue trend-line). Until it does, the trend will remain bearish.
This Leg targets the 1W MA100 (red trend-line) and our Target is 161.500. We will swift to buying again after the CCI prints two straight Higher Lows, similar to August 05 and April 02, but we will update when the time comes.
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