CHF/JPY Trading Analysis (24/09/2024)

The trend is descending. The bulls are testing the upper border of the descending price channel. The upward wave structures are truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.

Trading idea:

• Sell when the formation of the descending wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
• Stop-loss at 170.000 over the local maximum of the ascending truncated structure.
• Price targets at 167.200 and 165.650.

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