This is the big picture of CHFJPY Monthly.
I have been tracking this pattern since Sept 2013. Price has now formed a monthly bearish engulfing.
115.53 remains the key level to watch.
Even though price is so far away from 1990.
recent daily PA suggested that it is strongly respected.
This can be seen in D1 chart, where I will be waiting for a flush of 6 days high.
I categorize this as a potential A+ trade, as this is an A+ setup.