CHFJPY Daily: Possible break for the 166sh level??Price has been moving down since July recovering the losses. This downward move is confirmed not only by the LH as well as per the price trading below the SMA(50) and by the TL. Last week NY closed with a bearish candle closing below the 166.782 level and some strong bearish candle (in the previous days) confirming the bearish momentum. A confirmation of the break from last Friday will give more gas to the bears and may push the price to retest the 162.057 previous Support from December 2023.
As both currencies carry the "safe-haven" currencies both can attract investors during periods of uncertainty what in my opinion we have been seem more frequently than before so it is important to keep an eye on the GDP, inflation and the interest rates for both currencies.
On Thursday(13/02) we have the Consumer Price Index(YoY) for the CHF so be prepare. Trade Safe.
