CHF/JPY Long-Term Trend: Bullish
Key Resistance Levels: 111.156, 111.659, 111.958
Key Support Levels: 164.276, 163.672, 162.134
The price on the higher time frame has been in an uptrend recently after it tested a support level of 152.138 and bounced back. The pair has broken a few resistance levels and a trendline which suggests further trend continuation.
CHF/JPY Medium-Term Trend: Bullish
On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 162.134 and 163.672 and has sustained above that. As of now the pair has broken and retested a minor level of 164.362 before continuing the momentum.
Buy Limit Order @ 164.362
TP @ 165.268
Stop Loss @ 163.456
Trade Safely 🙂