CHF/JPY BULLISH POTENTIAL

The CHF/JPY Daily chart is exhibiting some buying potential. We're looking at an impulsive up move, followed by a corrective down move back to the 21 and 8 EMA's. We may be looking at a rejuvenation of the upside capability as indicated by the stochastic pointing up, as well as the possible sideways basing as a conclusion of the downside correction. We favour a buy on the pair, aiming to crack the recent highs and head towards the 128.000 level.