CHF/JPY Price Analysis: Bulls look ahead to weekly structural target

CHF/JPY moving in accordance to longer-term market structure.
Bulls testing the 117 area with sights on weekly target, 118.25.

Ross J Burland FXStreet

In accordance with yesterday's price analysis, Bulls looking for break of 117 level, the subsequent price action reflects the forecast and has indeed been on course for the 117 areas.

Bulls are in control in the bullish territory as follows:

Prior analysis

Subsequent price action

A break through 117.50 opens prospects of the 118 area and specifically, the -0.272% Fibonacci retracement level of the weekly correction at 118.25.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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