Current price for CHFJPY is 117.26 and almost 100 pips away from the resistance zone 118.20 - 119.20. Maybe we can see a bullish movement for a while before the price testing the resistance zone (Weekly Timeframe).
In fact, the Stochastic shows overbought as well for this pair. Based on the fundamental view, there is not much news on JPY, just one High Impact on Gross Domestic Product (QoQ) news.
Trade Idea : Short
Sell Limit : 118.20 - 119.20
Take Profit : 114.00 - 115.00
Stop Loss : 50 - 90 pips
Disclaimer!
This analysis does not give traders any confirmation on trading execution! It is for educational purposes only. You can refer this analysis and outlook for trading idea but trade at your own risk and trust your analysis first! Thank you and good luck for everyone!
In fact, the Stochastic shows overbought as well for this pair. Based on the fundamental view, there is not much news on JPY, just one High Impact on Gross Domestic Product (QoQ) news.
Trade Idea : Short
Sell Limit : 118.20 - 119.20
Take Profit : 114.00 - 115.00
Stop Loss : 50 - 90 pips
Disclaimer!
This analysis does not give traders any confirmation on trading execution! It is for educational purposes only. You can refer this analysis and outlook for trading idea but trade at your own risk and trust your analysis first! Thank you and good luck for everyone!