CHFJPY - The pair may initiate a bounce around 112.50
I am watching this pair for a long time. CHFJPY is in a ultra bearish trend daily which could stop very soon as soon as the price reachs the up trend line daily. This trend line could act as support and it could be very interesting to anticipate a reaction on 112.50.
My trade idea is to place a buy limit order on 112.50 with a stop loss at 111.90.
BUY LIMIT CHFJPY
Entry: 112.50
Stop loss: 111.90
Take profit: 114.40 (Just below 38.20 fibonacci)
Partial profit will be taken at 113.50 and stop loss will be moved to break even at this moment.
My trade idea is to place a buy limit order on 112.50 with a stop loss at 111.90.
BUY LIMIT CHFJPY
Entry: 112.50
Stop loss: 111.90
Take profit: 114.40 (Just below 38.20 fibonacci)
Partial profit will be taken at 113.50 and stop loss will be moved to break even at this moment.
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