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CHFJPY may be the best bullish trade of the past twelve months, delivering over a 10 percent return. This gain also came with low standard deviation and very limited risk.
Upward pressure remains in place, and fundamentals still support the technical bullish case. Another 10 percent run is very unlikely, but as long as the uptrend continues, the trend could still be followed with relatively low risk.
In the short term, there is a risk of potential forming of a head-and-shoulders formation. However, a clear break above 186.40, with some margin for error, would largely remove that risk. On the downside, support levels to watch are 186 and 185.60.
