Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (107.87). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CHFJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 41.
Take Profits:
TP1= @ 108.55
TP2= @ 109.10
TP3= @ 109.75
SL= @ 107.50
. There is a possibility of temporary retracement to suggested support line (107.87). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CHFJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 41.
Take Profits:
TP1= @ 108.55
TP2= @ 109.10
TP3= @ 109.75
SL= @ 107.50