Search ForexCrunch
  • CHF/JPY moving in accordance to longer-term market structure. 
  • Bulls testing the 117 area with sights on weekly target, 118.25.

In accordance with yesterday’s price analysis, Bulls looking for break of 117 level, the subsequent price action reflects the forecast and has indeed been on course for the 117 areas.

Bulls are in control in the bullish territory as follows:

Prior analysis

Subsequent price action

A break through 117.50 opens prospects of the 118 area and specifically, the -0.272% Fibonacci retracement level of the weekly correction at 118.25.