Breaking News

CHF/JPY Potential Upward Movement

CHF/JPY Long-Term Trend: Bullish

Key Resistance Levels: 117.95, 118.80, 119.20

Key Support Levels: 116.18, 115.20, 113.79

Daily Chart:

The price is trading inside a parallel channel which is made by a support & support levels with values of 116.18 & 117.95 USD respectively. Our expectation is a move upward toward the daily support.

CHF/JPY Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is trading inside a bullish channel formation where we expect a lower correction to the area of confluence which is made of a 61.80% Fibonacci retracement level & a support around the 117.21 USD price. This could cause a move upward toward the 117.52 USD mark.

Signal Idea:

Buy Limit Order @ 117.21

TP 1 @ 117.52

TP 2 @ 117.95

Stop Loss @ 117.05

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.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!






Free Robot!