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CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 168.224, 168.895, 169.982

Key Support Levels: 166.673, 166.564, 165.120

Daily Chart:

The price on the higher time frame has recently been in an uptrend and it has broken several resistance levels. The pair broke a major level of 162.457 and 166.673 which suggests further trend continuation.

CHF/JPY Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It recently broke a consolidation zone of 162.117 and 164.010 and has sustained above that. As of now the pair has retested a volume area of 166.673 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 167.367

TP @ 168.183

Stop Loss @ 166.552

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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