CHFJPY has performed well over the last month, bouncing off a double bottom back in mid-November. Since then, the bulls have well and truly been in control.

It is now sitting on a potential higher low, coming off the recent higher high.

Stochastic is sitting oversold and this represents a reasonable risk reward swing trade if support can hold.

There is quite a bit of resistance at higher levels around 117.60, and if it can break through that, it will be best to run a trailing stop, so keep that in mind.

Long CHF/JPY on support and oversold

Dec 23 2020

Take Profit +1.07%

Holding time 35d18hr

116.396

Entry price

117.642

Take profit price

2