#CHFJPY bearish high potential move

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A clear 5-wave bullish move has formed, with the fifth wave taking the shape of an ending diagonal, or what could also be termed a rising wedge pattern. Regardless of terminology, this is a bearish pattern with a high potential for reward.

Further confirmations include a bearish divergence between price and the MACD oscillator during the formation of wave five, as well as price reaching one of the key Fibonacci targets for the completion of the fifth wave.

To enter the trade, ensure you wait for a proper bearish breakout of a rising wedge pattern.

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This trading idea is on its way to the downside.

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As JPY is gaining more and more power since beginning of today we could expect more bearish move to come for this pair.