This pair is at the moment into a retrace mode from latest down move.

chfjpy

So I’m paying attention on how far this retrace could go. I draw a horizontal level and pull a Fibonacci and noticed that confluence point is at 50% retrace. Based on 50% Fibonacci retrace, we could then expect that price will go all they was till 161.8% extension, which is at 117.55. So if this trade will indeed develop, we could be in for 700 pips. So let’s me patient and wait for price to show us what it wants to do.

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