CHF/JPY Long-Term Trend: Bullish
Key Resistance Levels: 120.97, 121.52, 122.00
Key Support Levels: 119.95, 119.30, 119.00
The price on the higher time frame posted a correction count toward the 61.80% Fibonacci retracement level where it found buyers. The price posted a hammer candlestick which shows a potential reversal to the upside.
CHF/JPY Medium-Term Trend: Bullish
On the lower time frame the price posted a head and shoulders which indicates a change in direction of the trend to the upside. A lower correction could be seen to the highlighted zone before a rally toward the target profit.
Buy Limit Order @ 120.16
TP 1 @ 120.43
TP 2 @ 120.97
Stop Loss @ 120.05
Trade Safely 🙂