CHFJPY Wave Analysis – False channel break for FX:CHFJPY by FinancialFreedomTrading — TradingView

CHFJPY is at an interesting point right now. Like most of the Yen Pairs it is at the top of the outer structure and a nice move to the downside will happen next.

We discussed CHFJPY last week with the same outlook:

Since then we finally finished Wave 5 and got a classic fake breakout aka Fakeout.

The channel was broken to the upside with a last push of wave 5.

Price then formed a sell signal on the 4H chart and broke to rising trendline of wave 5.

The downside momentum should happen pretty soon, so be openminded for the opportunities the market presents.

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