FX.co ★ CHF/JPY: upside continuation

CHF/JPY: Uptrend Unharmed!

The currency pair resumed its growth and now is trading at 166.29. The uptrend line represents a downside obstacle, so as long as it stays above it, the price could resume its growth.

The former high of 166.53 (historical level) represents an upside obstacle. So, it remains to see how it reacts around it. An upside continuation could be invalidated only if the rate drops and stabilizes below the uptrend line.

CHF/JPY Trading Conclusion!

Staying above the uptrend line and jumping beyond 166.53 activates further growth and is seen as a buying opportunity.