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CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 124.222, 124.497, 125.023

Key Support Levels: 123.533, 123.262, 122.837.

Daily Time Frame:

The price on the higher time frame managed to break the bearish channel to the upside after posting a Wyckoff accumulation phase. The market is posting higher lows signaling that the a new trend to the upside is about to happen.

CHF/JPY Medium-Term Trend: Bullish

Signal Idea:

Buy Limit Order @ 123.527

TP 1 @ 124.163

TP 2 @ 124.497

Stop Loss @ 123.235

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.

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