(Weekly backtest and review)CHFJPY on the retrace
We foresee CHF would continue to shine brightly against JPY.
However, with recent market sentiment, the momentum in shorting JPY is getting weak. CFTC report showing that shorting volume on JPY is on the decline since 18JUL.
Shorting JPY become a risky trade when the outlook is turning from strong sell to neutral.
CHFJPY next retracement level at
S1- 164.000
S2- 162.500 (H4 MA200 indicator support)
However, with recent market sentiment, the momentum in shorting JPY is getting weak. CFTC report showing that shorting volume on JPY is on the decline since 18JUL.
Shorting JPY become a risky trade when the outlook is turning from strong sell to neutral.
CHFJPY next retracement level at
S1- 164.000
S2- 162.500 (H4 MA200 indicator support)
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