Long

CHFJPY Trend Analysis

Bullish Indications
Bullish piercing candle at Major 1D Support area at 122.566, Pair has been retraced to 0.382 Fib level on 4H. Bullish Divergence is seen on 1H RSI(14). This pair has been bullish 80% of the time in month of December for last 15 years.

Daily timeframe shows bearish trend, which has been supported from current price level.

I am long biased. However, two plans are given for either direction.

Plan A
Buy at 122.743 with Stop loss 122.397, Target 1 = 123.186, Target 2 = 123.457, R/R ratio 1.3

Plan B
Sell if closed below 122.566, Stop Loss 123.045, Target 1 = 121.567, Target 2 = 120.568

Please comment below for any suggestion, follow and support if you like the idea.

Thanks and Good luck for trade

yousufrz

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