CHFJPY Bullish Elliott Wave Breakout Setup GuideSwiss Franc vs. Japanese YenFX:CHFJPYBitcoinprofitableThe CHFJPY 1H chart shows a clear Elliott Wave structure transitioning from a corrective phase into a new impulsive trend. Initially, price formed a descending channel labeled as an ABC correction, where wave (c) completed near the lower boundary. After that, the market started a strong bullish move forming wave (1), followed by a corrective (2) structure with a smaller ABC pattern. Currently, price appears to have completed wave (2) near the support trendline, signaling a potential start of wave (3) — typically the strongest and most extended wave in Elliott Wave theory. The projected path on the chart suggests a bullish continuation with higher highs and higher lows, targeting previous resistance zones and beyond. Entry Points: Buy Entry (Primary): Near completion of wave (2), around support zone (approx. 197.5–198.0) Breakout Entry: Above minor resistance or trendline break after wave (2) Confirmation: Bullish candlestick pattern or momentum indicator (RSI/MACD divergence) Exit Points: Take Profit 1: Previous high near wave (1) Take Profit 2: Fibonacci extension (1.618 of wave 1) Final Target: Wave (3) peak projection (around 202+ zone) Stop Loss: Below wave (2) low This setup favors buyers as long as price holds above the corrective structure, confirming bullish momentum continuation.