CHF/JPY Long-Term Trend: Bullish
Key Resistance Levels: 125.177, 125.473, 126.000.
Key Support Levels: 124.414, 123.528, 122.784.
Daily Time Frame:
The price on the higher time frame posted a Wyckoff accumulation phase under a strong support zone near the 123.600 JPY mark. the market shifter from a downward movement to an upward one where we expect this to continue after breaking a major resistance near the 124.400 JPY level.
CHF/JPY Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the price succeeded to break the bullish flag to the upside with the help of the buyers near the bespoke support level which coincides with a 50% Fibonacci retracement level. A lower correction could be seen to the highlighted zone before a new bullish impulsive wave toward the target profits.
Buy Limit Order @ 124.512
TP 1 @ 125.157
TP 2 @ 125.473
Stop Loss @ 124.189
Trade Safely 🙂