CHF/JPY Analysis, Chart, and Trading Idea

Analytics for CHF/JPY Forex pair, based on complex analysis of modified waves, Fibonacci levels and price channels
 

The descending wave structures are truncated. The major descending truncated wave structure finished with the breach of the sloping channel. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state. The breach of 143.18 will give impulse to the formation of the uptrend waves structure.

Trading idea:

Buy at the breach of 143.18;

Stop-loss: 141.92;

Target price levels: 144.50, 147.50.