Emerging Descending Triangle pattern in its final wave was identified on the CHFJPY 1 hour chart. After a strong bearish run, we find CHFJPY heading towards the upper triangle line with a possible resistance at 174.1923. If the support shows to hold, the Descending Triangle pattern suggests a rebound back towards current levels.
CHFJPY is quickly approaching the support line of a Descending Triangle. We expect either a breakout through this line or a rebound.
