There is a good opportunity to buy in CHFJPY

There is a good opportunity to buy in CHFJPY


Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 108.35 would begin in Midterm.

Technical analysis:
The RSI bounced from the support #1 at 26 and it prevented price from more losses.
The RSI downtrend #2 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 108.50 on 05/08/2018, so more gains to resistance(s) 111.55, 112.25, 113.40 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 61.

Trading suggestion:
There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (110.30 to 108.35), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

Beginning of entry zone (110.30)
Ending of entry zone (108.35)

Take Profits:
TP1= @ 111.55
TP2= @ 112.25
TP3= @ 113.40
TP4= @ 114.70
TP5= @ 116.45
TP6= @ 117.35
TP7= @ 118.55
TP8= @ 122.00
TP9= @ 125.80
TP10= @ 134.60
TP11= Free