We chose CHFJPY, a lower-beta cross. We highlight possible support levels and a line-in the sand line (red) where the correction would take a different meaning. Higher beta pairs (AUD, NZD, CAD and even GBP) will have steeper routes and more room to cover.

The BIGGER TREND is depicted here, these are COUNTER TREND MOVES. It is important to note as the ULTIMATE GOAL is to find spots, after this corrective wave lower, where we can jump-on this bigger trend.