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CHF/JPY bears are committing to their grounds, although bulls are not backing down yet.

The price is priming for another bullish surge from daily support. 

CHF/JPY is showing sins of exhaustion on the longer-term time frames and choppiness on the lower-time frames. 

The following is a top-down analysis that shows the price trapped between support and resistances on a fractal basis working the way down from a monthly to an hourly perspective. 

Monthly chart

Trapped between support and resistance. 

Weekly chart

Supported at the 50% mean reversion. 

Daily chart

W-formation could give the bulls the upper hand from a confluence of support. 

4-hour chart

Bulls need to break resistance. 

1-hour chart

Bulls are in control, albeit within a chop and range. A break of the resistance could be the catalyst for a higher time frame’s northerly trajectory to penetrate deeper into resistance.