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
Nice breakout today :



Advice : Do not use too tight stops
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I should enter my trade on 123-level
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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.
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Stunned down. Trade Canceled
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