FX:CHFJPY   Swiss Franc / Japanese Yen
Chfjpy looks like a strong breakout pullback setup clearly represented by a red trendline wherein a strong support is broken and retested again as a resistance with a candlestick confirmation popularly known as bearish pinbar . The whole area represented by pink colour is a strong confluence resistance zone wherein the 200 EMA is also coinciding with the trendline and the pinbar closing is also below 38.2% fibonacci level. All the above things are coinciding at the same area representing it as a strong resistance zone .

As this trade is in a weekly timeframe , so its mainly directional based. Long term traders can take this trade and can keep trailing their stoploss till the target is acheived whereas short term traders can trade in the same direction along with booking small profits everytime. Personally i prefer entering and exiting in 4 hr timeframe after deciding the direction in weekly timeframe


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out