CHFJPY has shown a lot of strength today and is likely to climb higher next week, towards the upper border of the channel. It seems also to be following an up fork, so chances are first the median line will be hit. The yen's weakness continues and the Swiss franc got much stronger than at the end of the last week. Caution is necessary though, because the franc has become pretty overbought, may soon be running out of steam and lose its momentum. There's also a resistance level at about 123.12 (marked by recurring swings highs and lows).
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
