CHFJPY has created stable momentum to the upside. A break to the upside will occur today and stop (@111.40). The rejection of the H4 resistance will bring a retrace back (@110.60). That will be a new support zone and a great opportunity for bulls to secure positions for the long run. We can expect a take profit at the 115 and higher. It's safe to say the Swissy will gain massive strength.
Always do your own due diligence when entering the markets.
Always do your own due diligence when entering the markets.
Comment:
Partial profits can be secured, we can now expect a rejection off of the H4 resistance before continuation. The retrace is merely a correction on the Daily and Weekly time frame.
Comment:
250 pips secured to date on this trade. Enjoy your profits.