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RLinda
Sep 2, 2022 9:21 AM

RLinda ! CHFJPY-> Price is going to break Resistance Long

CHF/JPYOANDA

Description

CHFJPY Is in a consolidation phase. Volatility is declining, the price continues to test the limit resistance level 143.315, but at breakdown of this zone ahead there is a level 143.75, from the first time it will be difficult to break through and possible scenarios of a rollback of the price.

On the chart we see an upward price channel, false-breaking support and multiple retests to the limit resistance level 143.315. The mood on the market is bullish.

I assume that in the near future (either at the nearest retest, or after a pullback) we will be able to see a breakdown of the limit zone. Short-term objective in case of breakdown - resistance 145. Target in case of price rebound to support and in case of the subsequent growth - resistance 143.75.

Sincerely R. Linda!
Comments
AtlasTrades
good one CHF idea ! I agree with all what you wrote
YMGroup
Great chfjpy analysis as usual :) thanks and I think it's correct idea
FOREXN1
good Idea Thanks !
Artem_Dishel
Love the visuals
RLinda
Agree?
Tricky20
@RLinda sorry no!! 😉
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