FX.co ★ Daily Video Analysis: CHFJPY facing bullish pressure, potential for further rise!

Today we take a look at CHFJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is holding above both ascending trendline and Ichimoku cloud support, showing signs of bullish pressure. We could see a bounce at buy entry, in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension, and further upside towards our take profit levels, which are in line with horizontal swing high resistances and -27.2% Fibonacci retracement.