CHFJPY (August 16)

16. Aug. 2020

This CHFJ on the 4 hour time frame. Currently we are trading within an ascending channel, as we have been for the past 30+ days. In the upcoming week we could see short setups arise. I am looking to see whether price confirms its move by forming a continuation pattern which I would then enter on the break or from the top, defending on the nature of the structure which forms. I would be looking at the beginning of the structure as the first real target, but firstly I would be targeting the bottom of the channel as the first inflection point.