Noticed a very standard breakout play. CHFJPY has been ranging since the beginning of 2024 and is teasing a breakout to the downside.
The main risk, however, is that this breakout may be short-lived. Keep in mind that CHFJPY is still in a dominant uptrend since I'd reserve this for a quick counter-trend trade if momentum persists.
The main risk, however, is that this breakout may be short-lived. Keep in mind that CHFJPY is still in a dominant uptrend since I'd reserve this for a quick counter-trend trade if momentum persists.