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CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 123.488, 123.871, 124.273.

Key Support Levels: 123.087, 122.742, 122.530.

1-Hr Time Frame:

The price on the higher time frame succeeded to break the bullish flag to the upside after finding buyers around the 50% Fibonacci retracement level. the market is traded now above a major resistance level (now support) and is expecting to move upward in the coming hours.

CHF/JPY Medium-Term Trend: Bullish

5-Mins Time Frame:

On the lower time frame, the price started a new trend where we are now at the 2nd leg up and the price found bulls near the 61.80% Fibonacci retracement level. a lower correction could be seen to this area before a new bullish impulsive wave toward the target profits.

Signal Idea:

Buy Market Order @ 123.085

TP 1 @ 123.488

TP 2 @ 123.871

Stop Loss @ 122.884

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. Sir.can I get your vip signal service

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