CHFJPY | The Two Possible Movement
Disclaimer on,
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
After rallying for about 1 month and touching the resistance level at the level of 137.2xx, the CHFJPY pair has not been able to penetrate the resistance level and has returned to the level of 134.4xx which also coincides with the EMA 90. Looking at this condition, I think there are two possibilities that can occur :
1. Price will continue its rally
2. The price has decreased towards the next support area which is at the level of 131.9xx
The key level for both scenarios is at the "Critical Area" which is a Trough that was successfully formed in the classic Support area and dynamic Support (EMA 90). If the price drops and closes below the "Critical Area", the chances of the second scenario happening are very high. Likewise, as long as the price does not close below the "Critical Area" then the price rally will continue.
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Best regards, riandwip686
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
After rallying for about 1 month and touching the resistance level at the level of 137.2xx, the CHFJPY pair has not been able to penetrate the resistance level and has returned to the level of 134.4xx which also coincides with the EMA 90. Looking at this condition, I think there are two possibilities that can occur :
1. Price will continue its rally
2. The price has decreased towards the next support area which is at the level of 131.9xx
The key level for both scenarios is at the "Critical Area" which is a Trough that was successfully formed in the classic Support area and dynamic Support (EMA 90). If the price drops and closes below the "Critical Area", the chances of the second scenario happening are very high. Likewise, as long as the price does not close below the "Critical Area" then the price rally will continue.
Follow me for next update
___________
Best regards, riandwip686
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