CHFJPY Trade Setup H4

The CHFJPY closed at 160.14. Speaking of its resistance, the CHFJPY is currently trading within a channel, and the resistance level is forming around 160.140. If the market rejects from this level, there is a possibility of reaching the support level of the channel. However, if the channel breaks downwards, the next support level would be at 158.58. And if it also breaks 158.58, then there is a possibility of dropping down to 157.24. Pay attention to your levels, and as soon as a candle rejects from the resistance, you can consider selling.

Disclaimer: The information provided is for educational and informational purposes only and should not be considered financial advice. Always consult with a professional before making any financial decisions.