CHFJPY - Getting Ready For A Massive Drop!

We've been keeping an eye on CHFJPY for quite sometime now as price was at the extremes of the parallel channel. We are looking for any shorting opportunities to take CHFJPY down.

We've seen some JPY strength last week but we could be consolidating for a bit due to CHF strength (which we anticipated a couple of weeks ago). Looking for clear signs of reversal to enter CHFJPY.

See the diagram in the chart to see how you could use fibs to anticipate where one move will end and another will begin.

From the weekly chart we can see that there's a massive drop coming for CHFJPY!

Goodluck and trade safe!