Pullback on CHFJPY will come soon

CHFJPY is falling since it made a pin bar on 21.9., so the decline on this currency pair already lasts 3 weeks. Now it has got in the zone where the pullback is possible. There is a support zone with Fibonacci levels 50 and 61.8, which are the most reactive. The market is also creating a divergence after which we expect at least a little movement upwards. We plan to execute the trade somewhere between 112-113 if our algorithms confirm this buy signal. Don't forget that successful trading is about timing. We are patiently waiting for this trade. 

Recommended entry: 112.5, Stop-loss 111.79, Take-profit 114.

CHFJPY

 

All analyses, signals, and blogs showed above are written by René Remsik and represent opinions and views on financial markets by Atlantis Capital Group. Information we provide is mostly predictions and forward-looking statements which involve risk and may prove wrong in the future, so you should do your own research before making any decisions. Trading with leverage is risky and may cause a loss of 100% of the trading capital. All the articles wrote above are neither an offer nor a recommendation to purchase or sell any financial instrument. René Remsik is not a registered securities advisor and you are 100% responsible for all the decisions you make.