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#CHFJPY 🇨🇭/🇯🇵 Wave Outlook on the 30-Minute Timeframe ⏳
Bear Trap 🐻
It appears that the pair is moving within wave B/X of a corrective wave (2)/(B), which may form as a double zigzag, a running flat, or an extended pattern after completing the final leg C/Y. The price is currently contained within a price channel that includes wave B/X 📉.
🔨 The lower boundary of the price channel, along with the key level 🔑, may be broken, which would confirm the downward wave representing wave C/Y of wave (2)/(B) 〽️.
🧐 There could be an additional extension reaching between 80–138.2%, as shown in the chart 📊.
⚠️ Confirmation factors of the bearish wave must be observed as mentioned earlier.
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