Cross-rate signals: CHF/JPY maintains an uptrend

The cross-rate CHF/JPY is traded for the second consecutive week in an uptrend, limited to a general overbought. A significant factor in the resistance to further growth of the pair is the maximum of May (111.90), from which the repulsion is possible.

Thus, the output of the pair CHF/JPY from the rising channel and the fixation below 111.10-00 will indicate a high probability of correction. At the same time, the close of the day above 111.90-112.00 will indicate the uptrend and will signal the start of the “double bottom” development on the D1 timeframe.

Fig. CHF/JPY. Current price – 111.50

Also, read: “Trading strategies for cross-rates”

Hanzenko Anton