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FX:CHFJPY Forming Triangle at Trend Line

Interval: H4


Considering the state of economy in Japan, the Yen is still strong. Even if the economical politics will change in 2014 by implementing monetary easing, similar to what FED has imposed in the US.

By looking at the chart we can see a triangle consolidation forming right next to the trend line, a break over the upper line might represent a trend continuation with 98.20 as first target.

The opposite scenario with a implementation of risk aversion we have big chances to see a retest at 94.70 and why not 94.00.

FX:CHFJPY Forming Triangle at Trend Line by