CHF/JPY Long-Term Trend: Bearish
Key Resistance Levels: 131.52, 132.60, 133.58
Key Support Levels: 129.75, 128.81, 127.76
Daily Chart:
The price on the higher time frame has been in an uptrend for quite some time and recently the pair consolidated between 135.01 and 131.89. There was an attempt to break the range to the upside but the price faced a rejection and it broke the lower range that indicates a reversal of trend.
CHF/JPY Medium-Term Trend: Bearish
1-Hour Chart:
On the lower time frame, the pair is moving in the major trend’s direction. The price has been moving in a downtrend while forming lower lows. The pair has done a retest of 131.52 level and continuing the bearish momentum.
Signal Idea:
Sell Limit Order @ 130.71
TP 1 @ 129.78
TP 2 @ 128.85
Stop Loss @ 131.64
Trade Safely 🙂
cad/chf typo
Unfortunately buffer was a bit too tight and price hit S/L yesterday. Price came south today eventually even beyond potential TP.
There was a large spike in almost all the pairs due to data release. This is a part of trading.
Is the trade going against the market
Hi,
The trade is still protected and the resistance zone was validated.
Happy trading.