CHF/JPY - Here come's the bears

19 de jul. de 2017

The CHF has been a really stable currency with the unemploment remaining at 3.2%, and decrease from last months 3.3% and from that we've seen significant strength on the CHF - But right now the CHF is at a peak level where we've had numerous price action rejections showing us that this market is in favour of the bears and not the bulls, we've had a clear pin bar rejection on the daily at the top of the range, with the market dropping to a price level of 117.550, using that same region as a resistance as it had done before. CHF is playing the perfect cycle, it's gone long, with now the bulls weakning and the bears coming over.