CHF/JPY Long-Term Trend: Bullish
Key Resistance Levels: 125.583, 125.851, 126.271.
Key Support Levels: 124.635, 124.233, 124.000.
The price on the higher time frame succeeded to break the bullish flag formation to the upside and as well it broke the bearish trendline. This shows that a huge positive momentum is there and a clear indication that the bulls are in control of the market.
CHF/JPY Medium-Term Trend: Bullish
5-Mins Time Frame:
On the lower time frame, we can see that the market found buyers near the 50% Fibonacci retracement which led to a huge move to the upside. A series of higher highs and lows has been posted signaling that we are new impulse way to the upside.
Buy Market Order @ 124.812
TP 1 @ 125.583
TP 2 @ 125.851
Stop Loss @ 124.443
Trade Safely 🙂