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CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 141.65, 142.89, 144.21

Key Support Levels: 139.89, 138.93, 137.10

Daily Chart:

The price on the higher time frame was in an uptrend and it did a pullback recently. The pair found support at the 127.73 level and bounced back from there with good momentum. The two resistance levels of 135.37 and 137.79 have been broken and we expect further trend continuation. 

CHF/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price recently broke a trading range of 137.10 and continued the trend. As of now a minor level of 139.89 has been broken and retested. There is a higher-low candle formation which indicates bullish bias. 

Signal Idea:

Buy Stop Order @ 140.37

TP 1 @ 141.62

TP 2 @ 144.12

Stop Loss @ 139.12

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.

One comment

  1. Are we leaving this trade open over night?

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