CHF/JPY Long-Term Trend: Bearish
Key Resistance Levels: 131.52, 132.60, 133.58
Key Support Levels: 129.75, 128.81, 127.76
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
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.
Sell Limit Order @ 130.71
TP 1 @ 129.78
TP 2 @ 128.85
Stop Loss @ 131.64
Trade Safely 🙂