11:23 April 18, 2025
Facts
The forex pair CHFJPY Bounced from the important technical support brand at 173.25.
The forex value is traded above the sliding 100-period average from the H4 interval.
Trading idea
A possible long position (for highly speculative Trader) at the market price on CHFJPY at the market price
- Possible profit, take profit, TP: 176.00, 177.25
- Possible loss limitation, Stop Loss, SL: 172.22
Background & opinion
The pair of currency CHFJPY has achieved important technical support today. The course crashed from the lower limit of the 1: 1 structure, which indicates that the short-term trend continues to point upwards. The area marked in the chart below (near 173.25) is also supported by the 38.2 %fibonacci retracement of the latest upward movement since April 3. According to the overbalance strategy, it can be assumed that the course will continue to increase as long as it remains above the above zone of 173.25. In addition, the couple notes over the sliding 100-period average. Because of that would be one possible trade idea for highly speculative TraderBuy the value of CHFJPY at the market price with two course destinations: 176.00 and 177.25.
As in principle, it makes sense to always set a stop-loss order to limit the risk of a potential loss, for example at 172.22.
Place trading ideas no investment advice and are not suitable for every investor! Furthermore, as information, they take no personal situation of a customer into account as information! Rather, they position possible scenarios and mostly reflect the opinions of the XTB’s Easearch team. Every customer at XTB makes investment decisions completely independently: XTB does not offer any investment advice, “Execution only”. Before you act with real money, you should familiarize yourself with the trade via a demo account!
Source: XStation55 from XTB
Interest from the broker – directly on the trading account
Disclosure in accordance with Section 80 WPHG for possible conflicts of interest
The author (m/f/d) can be invested in the securities or basic values discussed.
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Value developments of trade values from the past are not a reliable indicator of value developments in the future!
Risk.
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