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    CHF/JPY: pull-back possibly complete – up-trend resuming

    CHF/JPY pair has formed a high probability bullish set-up on the 4-hour chart.

    The exchange rate has pulled-back into a zone between the 10 and 20 moving averages which is a good place to take trades in line with the broader up-trend.

    It has formed a 2-bar reversal pattern in the trading zone between the 10 and 20 MA’s and MACD is moving up strongly in line with the up-trend, and is not diverging bearishly.

    A break of the 2-bar pattern highs at 128.70 would provide bullish confirmation of further upside, with a target at the level of the height of the 2-bar pattern extrapolated up, which gives a target at 129.37.
    CHFJPY04

    CHF/JPY pair has formed a high probability bullish set-up on the 4-hour chart.

    The exchange rate has pulled-back into a zone between the 10 and 20 moving averages which is a good place to take trades in line with the broader up-trend.

    It has formed a 2-bar reversal pattern in the trading zone between the 10 and 20 MA’s and MACD is moving up strongly in line with the up-trend, and is not diverging bearishly.

    A break of the 2-bar pattern highs at 128.70 would provide bullish confirmation of further upside, with a target at the level of the height of the 2-bar pattern extrapolated up, which gives a target at 129.37.
    CHFJPY04


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