Good afternoon team,
There appears to be a nice technical setup here on the CHFJPY.
CHFJPY – 4 Hour Charts
There has potentially been a bull flag breakout followed by a retest of the formation. There also appears to be a head and shoulders formation with the shoulder line being at a key support zone.
Trade Setup: BUY – Market execution, current price 112.92, stop loss 112.22 and take profit 114.00
Stop loss: 70 pips
Take profit: 108 pips