CHFJPY
Weekly Frametime
Current Range 101.7 -118.6
MidPoint: 110.1
For the second time the pair comes from the upper edge of our range 118 and is returned above 107; this time it was returned over 108.5.
It is returned, after a descent, evidenced by an weekly candlestick May 27.
I have placed a middle point on the side of the projected triangle as target.
The three points of the triangle:
a: 118.539, b: 108.494 c: 111.126
Target around 114.832 = (a+c)/2
You need other indicators to corroborate my position. I'm never absolutely sure of anything.
The MACD is favorable to BUY.