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 🙂