Nice idea on CHFJPY and there may be potential gains as you have identified by going long. For our set up, we have identified the key resistance and support levels. Currently, price is approaching our first support at 111.90. It is a horizontal overlap support, 61.8% Fibonacci extension and a 61.8% Fibonacci retracement. Stochastic is approaching support and we might see a corresponding bounce in price. If a corresponding bounce does occur, we may want to take a look at the 114.02 resistance level. It is a horizontal pullback resistance, 38.2% Fibonacci retracement and a 61.8% Fibonacci extension.
Please take a look at our idea and share with us what you think.
Please take a look at our idea and share with us what you think.