Hello fellow risk-takers
CHFJPY seems to have fetched sellers' liquidity at its recent high. A bearish pressure may be expected to heavily build up from here onwards. The first conservative target 121.904 promises more than 200 pips from the current price 124.501 and the second profit target can fetch over 400 pips to 120.086. A stoploss above the recent high seems reasonable. Estimated holding period is in weeks for the potential 400-pip move.
Trade well and take care.
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*This information is presented for entertainment purposes only and shouldn't be construed as investment advice.
CHFJPY seems to have fetched sellers' liquidity at its recent high. A bearish pressure may be expected to heavily build up from here onwards. The first conservative target 121.904 promises more than 200 pips from the current price 124.501 and the second profit target can fetch over 400 pips to 120.086. A stoploss above the recent high seems reasonable. Estimated holding period is in weeks for the potential 400-pip move.
Trade well and take care.
____
*This information is presented for entertainment purposes only and shouldn't be construed as investment advice.