CHFJPY ABC Movement

CHFJPY in the midst of an ABC movement which is nearing completion.


Reasons

1. Measured move has been tested at 173.20

2. Significant Outside Return is at 172.65

3. Fibonacci retracement of the larger bullish impulse finds the .618 at 172.20

4. Momentum is in OS zone.

There may be further downside, but the RR on this timeframe is 1 at best.