Last week we have noticed a selloff from the Swiss yen pair after it had been selling from its highs, we saw a 400pip move down during the first days of October and currently price is on it way to retrace back down.
Below is our previous trade setup for the ChfJpy trade setup whereby price is seen moving towards our sell area after finding support at the fib 50.0 zone.
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| Previous Trade Setup |
Currently price has respected our selling zone at OTE and we expecting to see a push down as shown on the trade setup below.
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