The CHF/JPY pair on the M30 timeframe presents a potentially interesting situation with a triangle breakout pattern.
Potential Long Trade :
Entry: Above the broken resistance line of the triangle, ideally around 167.60 after confirmation.
Target Levels: 168.75: This represents the height of the triangle, measured from the apex (highest or lowest point) to the base (opposite trendline), projected upwards from the breakout point. 169.18: This is a further extension of the upside target, based on the height of the recent price movement.
Stop-Loss: Place a stop-loss order below the broken resistance line of the triangle, ideally around 167.45. This helps limit potential losses if the price fails to break out and reverses downwards.
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.