I last posted about my CHF/JPY short trade here. I think this currency should continue to drop nicely.
Notice that the lower trendline has been very well respected. Every time price neared that level, it bounced off quickly and started a multi-day uptrend. Yesterday, the same price action occured. However, this time, instead of continuing higher, the market reversed to retest the trendline today. This shift in price behavior tells me that we'll soon break this uptrend line and head towards the 80 range.
No comments:
Post a Comment