CHFJPY LONGS

This pair had formed a descending channel which was fairly uniform over time creating liquidity areas around the trendlines and respecting them. Once price broke the channel its created a chance for a good entry on the retest and those who went in got a good deal of 100 + pips. We do have a second chance of entry of the break and retest of the current resistance zone where price is currently. Once price breaks that point we can look for good entries there.