Will the price on CHFJPY break higher or it just a false break? We’ll see at the end of the day.
The 106.30 is the level that I will watch closely. If the price on CHFJPY creating a false break such as bearish engulfing or pin bar, I will open a short trade. The signal for bearish should be obvious and stick out compares to the other and I prefer the signal is on the daily chart. But, if the price is closed above the level at the end of the day, I will wait for the price to retrace back and start hunting for long opportunity around the 106.30.
CHFJPY daily chart
CHFJPY 4-hour chart