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CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 170.308, 171.295, 171.702

Key Support Levels: 169.776, 168.694, 168.327

Daily Chart:

The price on the higher time frame has recently been in an uptrend after it tested a support level of 158.705 and bounced back. The pair has continued to break a few resistance levels which suggests further 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. It recently retested the EMA and bounced back. As of now the pair has broken and retested a minor level of 169.776 before continuing the momentum. 

Signal Idea:

Buy Stop Order @ 170.257

TP @ 170.804

Stop Loss @ 169.711

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.

3 comments

  1. Hello Patrick, I’m in nyc, I’m interested in joining your signal group , what time of day do you drop your signals?

  2. Hello! My name is Edmond Kayiwa. I’ve been a huge fan, following along and learning about the different strategies you guys have set up, but I’m also a relatively new trader and am lacking on some of the terms. Just to understand the signal idea, it is a reversal after the pair encounters 170.117, and when setting up the drawing in tradingview is TP the entry price? Also when you guys mention moving to SL what is that? Thank you and can’t wait to hear back!

    Thanks again,

    -Edmond

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