CHFJPY Sell signal on the Channel Up.

5 Jul 2023

CHFJPY is trading inside a Channel Up in the past 4 months and right now turned sideways after hitting the top of the pattern.
This is a Higher High sell signal which has a triple level target.

Trading Plan:
1. Sell on the current market price.
2. Buy at 157.500 and as long as the RSI (1d) holds the 53.50 Support.

Targets:
1. 157.500 (the 0.5 Fibonacci, Rising Support and potential contact with the MA50 1d).
2. 164.000 (Higher High).

Tips:
1. The RSI (1d) crossed under its MA giving an additional sell signal. Moreover the 53.50 Support, has given an accurate sell target and in turn buy entry, 3 times inside 2 months.

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