CHF/JPY Analysis, Chart, and Trading Idea

Analytics for CHF/JPY Forex pair, based on complex analysis of modified waves, Fibonacci levels and price channels

The ascending wave structures are truncated. Bulls tested the upper border of the descending price channel and the Ichimoku Cloud. The "long-legged doji" bilateral pattern formed. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.

Trading idea:

Buy at the formation of the descending wave structure, when the (A) wave breaches the sloping channel of the ascending truncated structure;

Stop-loss: 143.250;

Target price levels: 141.800, 140.380.