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CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 119.94, 120.38, 120.52

Key Support Levels: 118.73, 118.57, 117.68

Daily Chart:

The price on the higher time frame managed to break both the bullish flag and the daily resistance to the upside. A lower correction has been posted to the new support around the 118.73 USD level where we expect a continuation of the trend upward.

CHF/JPY Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hr time frame, the pair managed to break the wedge formation to the upside with a big bullish candlestick. A lower correction is expected toward the 119.53 USD mark before continuing the main trend.

Signal Idea:

Buy Limit Order @ 119.52

TP 1 @ 119.93

TP 2 @ 119.94

Stop Loss @ 119.34

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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