CHFJPY is testing a confluence of the upside LT resistance
CHFJPY is reaching the channel’s top and has a rising wedge 128 resistance. This resistance should be broken for a continuation higher. If we get a price action rejection here, it will lead to a swing down and a test of the upside support. This is a substantial long-term reaction zone, and we see signs of negative divergence coupled with extreme overbought indicator readings.
Note: look for the short trade entries with the stop loss above 128
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