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 2^nd 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 🙂