CHFJPY isn't a pair I typically trade, but I'm sharing this analysis by popular request from my followers. My trading approach is all about simplicity – if the market's signals aren't crystal clear, I hold back. That's why I always emphasize patience as a virtue and knowledge as your key to success. After all, if you don't win, at least you don't lose. 🙂
On the chart, I've marked the last Higher Low (HL) and Higher High (HH) on the Daily Time Frame (D TF). We're clearly in an uptrend, so the smart move is usually to go with the overall trend. As long as the price on the D TF doesn't break below the last HL and confirms the break (no fake outs), we're still trending upwards.
Remember, this is just my take on the market, and when you trade, it's on your own responsibility.