CHF/JPY Long-Term Trend: Bullish
Key Resistance Levels: 117.95, 118.80, 119.20
Key Support Levels: 116.18, 115.20, 113.79
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
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.
Buy Limit Order @ 117.21
TP 1 @ 117.52
TP 2 @ 117.95
Stop Loss @ 117.05
Trade Safely 🙂