CHFJPY APRIL 2024 WEEK 4 OUTLOOK -
Daily - bullish. 170.133 is the level to watch out. any long position I take will be managed / observed closes as price tags this level. This level being too close to current price does not bode well for our entries due to potential bad RR.
Origin - I like the structure here. if the daily issue was not present, I would say that if price sustains over the POC, we can look for longs without a problem. but daily R1 being right above presents issue. the chop experienced through last week has removed any potential need for a pullback. so it's quite blurry at the moment.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.