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WHY BUY CHFJPY? - PAIR BOUNCES OFF KEY DEMAND ZONE @117.50/70 - PAIR FINDS SUPPORT AT KEY S/R LEVEL @117.50/70 - INVERSE HEAD-AND-SHOULDER PATTERN SETUP SPOTTED ON H1/H4 - PAIR RETESTS NECKLINE OF PATTERN AND ESTABLISHES SUPPORT THERE (ABOVE @118) -INCOMING HIGH IMPACT NEWS THIS WEEK (THURSDAY) MIGHT PUSH CHF UPSIDE
It's good to layer buy positions from @118.30 - @118.00 with appropriate and convenient SL of choice. There are two possible targets in case this outcome is realized as indicated by the white horizontal lines Above all, in as much as nothing is certain or fixed,follow your trading plan and risk management, as well as the disclaimer below!
DISCLAIMER: Please note that this is not an investment advice for anybody to run or undertake; It is strictly for educational purposes only and they are my personal views on these assets. If anything goes south, I am not liable at all. Also, know that Forex is a high risk and reward business. So, do not trade with borrowed money or the one you can not afford to lose.
good trade