CHF/JPY Long-Term Trend: Bullish
Key Resistance Levels: 122.45, 122.55, 123.00
Key Support Levels: 122.08, 121.83, 121.50
The price on the daily time frame is trending to the upside where it is now in a middle of a correction. The daily support (122.08 USD) could prove difficult to break, this will lead to a reversal and move upward in the same direction of the main trend.
CHF/JPY Medium-Term Trend: Bullish
On the 1-hour time frame, the pair is trading inside a bullish flag formation, where we expect a lower correction toward the area of confluence. This zone is made by a 61.80% Fibonacci retracement level and the strong support. Once it is reached a move upward might be seen to the target profit.
Buy Limit Order @ 122.18
TP 1 @ 122.45
TP 2 @ 122.55
Stop Loss @ 122.08
Trade Safely 🙂