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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 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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