CHFJPY Analysis - April 27, 2020

CHFJPY Analysis – April 27, 2020.

Our Recommendation

Traders should on the short term look for downward price movement on the CHFJPY pair.

Price has been trending downward since the 10th of April. and although the pair has it some support it has just freshly broken through after the formation of a miniature double top pattern.

CHFJPY Analysis - April 27, 2020 - image 1
CHFJPY Analysis - April 27, 2020 - image 2
Double top pattern formation on CHFJPY

The price has broken through the neckline of the pattern confirming the resumption of the downtrend.

Coupled with the double top pattern, a moving average crossover to the down side can also be spotted inthe chart.

Target: Traders can target 109.635 about 20 pips from the current trading price at the time of publication of this post.

CHFJPY Analysis - April 27, 2020 - image 3

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