CHFJPY - Over-Bought Zone!

FX:CHFJPY   Swiss Franc / Japanese Yen
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

CHFJPY is overall bullish trading inside the brown channel.

Moreover, the zone 150- 155 is a strong supply zone .

So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green supply zone and upper brown trendline. (acting as non-horizontal resistance)

As per my trading style:
As CHFJPY approaches the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!

This analysis is done using RichTL indicator


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