CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 131.65, 132.40, 133.08

Key Support Levels: 130.27, 129.11, 128.28

4-Hour Chart:

The price on the higher time frame has been recently reversed from the downtrend and has broken a few resistance levels with good momentum. As of now, the pair bounced back after testing the support level of 130.35 which shows a bullish bias.

CHF/JPY Medium-Term Trend: Bullish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The pair consolidated between a range of 129.11 and 128.28 for some time and then the upper range was broken. The price is showing good momentum after doing a retest of the 130.27 level.

Signal Idea:

Buy Limit Order @ 130.90

TP 1 @ 131.68

TP 2 @ 132.46

Stop Loss @ 130.12

Trade Safely 🙂