CHF/JPY Potential Upward Movement
Key Resistance Levels: 124.460, 125.020, 125.470.
Key Support Levels: 123.453, 123.020, 122.568.
The price on the higher time frame posted an engulfing bullish pattern showing that the bulls took control of the market, and they are about to reverse the price. This could to a move higher toward the next key resistance level which is the 124.46 JPY mark.
CHF/JPY Medium-Term Trend: Bullish
On the lower time frame, the price managed to break the bearish channel formation to the upside after finding bulls around the 50% Fibonacci retracement level. A lower correction could be seen before a new impulsive toward the mentioned target profits.
Buy Limit Order @ 123.452
TP 1 @ 123.931
TP 2 @ 124.460
Stop Loss @ 123.218
Trade Safely 🙂