Here is an analysis of the CHF/JPY on the D1 time frame. The D1 is in an uptrend and pointing up. However, there are many layers of support above the current price of 165.20. This is a large cluster of resistance from 165.20 to 166.50. Above 166.50 is a breakout point for a buy. So if you get any buy signals below this price be very careful. Even though the D1 uptrend is a good trend, the final filter for any trade should be your price target, considering all support and resistance levels. Trading inside clusters introduces risk to the trade, so avoid any buys or reduce lots size significantly when trading inside of clusters.
Forex Chart Analysis CHF/JPY