Technical analysis of CHFJPY

CHFJPY Daily

Market is slightly bullish with 21 above the 51. Price is ranging. Price is coming off a double top, indicating that there is a reversal so what I think will happen is that after price reached MM3/116.3420 causing a double top, price will come down to MM1/113.3160, where profit taking will happen.

Source: MT4

CHFJPY H4

Market is flat, with the 21 and 55 not heading in a specific direction. Price is bearish, with the 8 above the 5. What i think will happen is that after making a double top on the daily chart, price will pull back off WPP/ 115.8570,where i will sell, with the intention of price heading towards profit taking at WS2/114.4690.

Source: MT4

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