Pullback on CHFJPY will come soon

Rene Remsik Atlantis Capital Group

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.

Author

Rene Remsik

Atlantis Capital Group

My friends and family consider me as a market geek. I got into markets when I was just 15 years old and since then I read, study, analyse markets and mainly currencies, commodities, stock indices and cryptocurrencies.

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