Clear sell on CHFJPY lets go short!
Updated
Right now the price of [symbol = "FOREXCOM: CHFJPY"] FOREXCOM: CHFJPY [/ symbol] is at a good sales level, 109.133 [/ b] this level started to form with a strong rejection on May 6th, the price has had its ups and downs, and is consolidating in H1, right now as we have a loss of bullish momentum with three touches in the sales level, indicating the rejection of the rise, we see a good posible sell.
We expect a bearish rally at least until our next level 108.415 [/ b] we validate that with the fact that it is most likely that the price will look for the level of the moving average in 200 periods. We put our stop loss at 109.212, which I see difficult to touch, since we have a good rejection to the rise, and a trend line that is also rejected, marked in H4.
Stay tuned to the movements of the price of this pair, since we are in minimum levels of the price in weekly chart.
Happy profits, use risk management!
We expect a bearish rally at least until our next level 108.415 [/ b] we validate that with the fact that it is most likely that the price will look for the level of the moving average in 200 periods. We put our stop loss at 109.212, which I see difficult to touch, since we have a good rejection to the rise, and a trend line that is also rejected, marked in H4.
Stay tuned to the movements of the price of this pair, since we are in minimum levels of the price in weekly chart.
Happy profits, use risk management!
Note
Also, check the stochastic level, its pretty nice for selling!
Mariel Lang
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