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CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 149.64, 150.54, 151.10

Key Support Levels: 148.23, 146.99, 146.12

Daily Chart:

The price on the higher time frame has been showing bullish signs. It broke a consolidation zone of 138.76 and 143.16 and sustained above that. The pair is now bouncing back after testing the support level of 145.88

CHF/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It has recently shown good momentum and broken a level of 146.99 The pair has sustained above that. It has now broken and retested another level of 148.23 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 148.77

TP 1 @ 149.49

TP 2 @ 150.93

Stop Loss @ 148.05

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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