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Symmetrical Triangle Chart Pattern on CHF/JPY

September 20, 2009 by

Almost a month has passed since the last time I’ve posted the chart pattern analysis here. Today I offer a rather clear symmetrical triangle pattern on CHF/JPY chart at a weekly timeframe. The apex of the triangle is still quite far in time and the early breakouts could probably be false, but a full breakout after 3–4 weeks may signal a good bullish or bearish trading opportunity. The bullish breakout is more probable since the symmetrical triangle is a continuation pattern. Click the image below to see the full-size chart:

CHF/JPY, Weekly Timeframe, 2009-09-20

If you have any questions or comments regarding this CHF/JPY chart pattern, please, feel free to reply via the form below.

2 Responses to “Symmetrical Triangle Chart Pattern on CHF/JPY”

  1. RAMPRASAD

    Hello Actually I am in a long position of Chf/Jpy at 89.39 and 88.72 levels .Now it is trading in 86 levels.Any short term reversal possible.Please let me know your strategies.It’s worrying.I am new to Forex.

    Thanks.

    Reply

    Andrei Reply:

    Actually, a bullish breakout from the pattern is very probable, in my opinion. But it won’t happen in two-three weeks, so if you have a patience and time to wait – then wait. The problem with the Swiss franc and Japanese yen is that both governments are very aggressive with interventions when it comes to keeping their currencies down from appreciating too fast.

    Reply

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