Buy CHFJPY Longterm Based on H1, H4 + D TimeframesThis research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
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Chfjpytrade
CHFJPY longEntires @ 0.382, 0.500, 0.618 retracements of previous swing high (based on risk preference)
Stops @ new low + trendline break (invalidation point)
Targets @ 0.500 retracement of major previous downswing
There is 3 failed tests @ 0.382 before but the newest high put the setup back in to play. Exhaustation signs in the current range should be monitored closely.
Constructive comments are welcome
CHFJPY shorterm positionThe market is trading just below a trend line (the centre of the channel) dating back to the 3rd of the month. Momentum has been holding below the .3899 level. A break of the .3899 on momentum and the centre line of the channel on the market price will open up a long position aiming for the 114.20 area.