Mirandole
Long

CHFJPY : Nice buying opportunity

FX:CHFJPY   Swiss Franc/Japanese Yen
Hi everybody !


It has been a while since I didn't post any idea on TradingView. I come back today with this nice buying opportunity you have on CHFJPY             pair.
On january 15th, the Swiss National Bank (SNB) decided to abandon its fixed exchange rate with euro             . It created a strong mess on the market and lot of traders made big losses. Now that Swiss Franc is free of move against euro             , it could do better its role of a "safe haven" currency. In present time of economic uncertainty and after the strong Bank of Japan's monetary easing policy, it could be a nice bet to invest on CHF.

On the technical view, after the january panic, we can see a nice retracing move to 2014 december level. Then a triple bottom pattern came into play retracing to Fibonacci 0.764 level which has just been broken now. The retracing uptrend may continue next days.


Trade setup :
Buy : 125.200
Stop Loss : 123.950
Take Profit : 127.850


Have a nice trading week !

Best Regards,
Serge
Stunned down. Trade Canceled
Reply
The Swiss National Bank decided to eliminate exemptions from the country’s negative interest rates for public accounts, including the central bank’s pension fund.
Reply
I should enter my trade on 123-level
Reply
Nice breakout today :

snapshot


Advice : Do not use too tight stops
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