CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 165.975, 166.393, 166.889

Key Support Levels: 165.445, 164.805, 164.192

4-Hour Chart:

The price on the higher time frame has been in an uptrend recently after it tested a support level of 162.238 and bounced back. The pair has continued to break a few resistance levels which suggests further trend continuation.

CHF/JPY Medium-Term Trend: Bullish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 164.192 and 164.805 and has sustained above that. As of now the pair has broken and retested a minor level of 165.445 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 165.676

TP @ 165.950

Stop Loss @ 165.402

Trade Safely 🙂