The Chef Yen has been sitting in a consolidated pahse for a number of weeks now with numerous tests of support and resistance occuring within the range.

It has in effect shifted itself up from a similar sized range earlier on.

I am looking for price to reach the trendline providing resitance in the current range.

Using a 200 moving average as another guidline, price is sitting approximatley 35-40 pips away from the 200 MA giving a secondary support line beyond the 116.250 price level.

CHFJPY Long

Mar 24 2021

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