CHF/JPY appears to be in a strong bullish trend, making higher highs and higher lows. The price is respecting the trend and continuing upward. If this momentum holds, we can expect further upside movement.
Key Levels & Trade Plan:
This is the immediate resistance level where price may face some reaction.
If CHF/JPY struggles to break 168.25, we could see a pullback before another push higher.
If price breaks and closes above 168.25 on a strong candle, it confirms bullish strength.
Breakout Confirmation & Next Target: If CHF/JPY breaks above 168.25 with strong momentum, we look toward the next major resistance.
Upper Trendline (which depends on the slope of the trendline but could be near 169.00+).
A break and retest of 168.25 could be an ideal buying opportunity for further continuation.
Key Levels & Trade Plan:
- First Target: 168.25
This is the immediate resistance level where price may face some reaction.
If CHF/JPY struggles to break 168.25, we could see a pullback before another push higher.
If price breaks and closes above 168.25 on a strong candle, it confirms bullish strength.
Breakout Confirmation & Next Target: If CHF/JPY breaks above 168.25 with strong momentum, we look toward the next major resistance.
- Next Target:
Upper Trendline (which depends on the slope of the trendline but could be near 169.00+).
A break and retest of 168.25 could be an ideal buying opportunity for further continuation.
Trade closed: target reached
Next target of 169.00 has been successfully hit.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.