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CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 172.803, 173.463, 174.196

Key Support Levels: 170.915, 170.285, 169.562

Daily Chart:

The price on the higher time frame has recently been in an uptrend. It bounced back after testing a support level of 166.574 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 broke a key level of 169.315 and has sustained above that. As of now the pair has broken and retested a resistance zone before continuing the momentum.

Signal Idea:

Buy Market Order @ 171.804

TP @ 172.763

Stop Loss @ 170.861

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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