CHF/JPY Long-Term Trend: Bullish
Key Resistance Levels: 167.908, 168.145, 168.878
Key Support Levels: 167.031, 166.704, 165.859
The price on the higher time frame has been in an uptrend recently after it tested the support level of 158.705 and bounced back. The pair has broken a few levels and a trendline is also broken which indicates signs of 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 Stop Order @ 167.240
TP @ 167.891
Stop Loss @ 166.589
Trade Safely 🙂