CHF/JPY Long-Term Trend: Bullish
Key Resistance Levels: 141.65, 142.89, 144.21
Key Support Levels: 139.89, 138.93, 137.10
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
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.
Buy Stop Order @ 140.37
TP 1 @ 141.62
TP 2 @ 144.12
Stop Loss @ 139.12
Trade Safely 🙂
Are we leaving this trade open over night?