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CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 142.58, 143.46, 144.24

Key Support Levels: 141.01, 140.34, 139.13

Daily Chart:

The price on the higher time frame has been trading in an uptrend for the last few months and it broke a resistance level of 135.37 with good momentum. Recently it did a pullback to the 138.96 level and bounced back from there which indicates 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 traded between a range of 139.13 and 140.34 for some time and then broke the upper range. The pair has now broken and retested the minor level of 141.01 

Signal Idea:

Buy Stop Order @ 141.71

TP 1 @ 142.51

TP 2 @ 143.31

Stop Loss @ 140.91

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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