CHFJPY : Nice buying opportunity
Hi everybody !
It has been a while since I didn't post any idea on TradingView. I come back today with this nice buying opportunity you have on CHFJPY pair.
On january 15th, the Swiss National Bank (SNB) decided to abandon its fixed exchange rate with euro. It created a strong mess on the market and lot of traders made big losses. Now that Swiss Franc is free of move against euro, it could do better its role of a "safe haven" currency. In present time of economic uncertainty and after the strong Bank of Japan's monetary easing policy, it could be a nice bet to invest on CHF.
On the technical view, after the january panic, we can see a nice retracing move to 2014 december level. Then a triple bottom pattern came into play retracing to Fibonacci 0.764 level which has just been broken now. The retracing uptrend may continue next days.
Trade setup :
Buy : 125.200
Stop Loss : 123.950
Take Profit : 127.850
Have a nice trading week !
Best Regards,
Serge
It has been a while since I didn't post any idea on TradingView. I come back today with this nice buying opportunity you have on CHFJPY pair.
On january 15th, the Swiss National Bank (SNB) decided to abandon its fixed exchange rate with euro. It created a strong mess on the market and lot of traders made big losses. Now that Swiss Franc is free of move against euro, it could do better its role of a "safe haven" currency. In present time of economic uncertainty and after the strong Bank of Japan's monetary easing policy, it could be a nice bet to invest on CHF.
On the technical view, after the january panic, we can see a nice retracing move to 2014 december level. Then a triple bottom pattern came into play retracing to Fibonacci 0.764 level which has just been broken now. The retracing uptrend may continue next days.
Trade setup :
Buy : 125.200
Stop Loss : 123.950
Take Profit : 127.850
Have a nice trading week !
Best Regards,
Serge
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