On the CHFJPY weekly chart we can see that price is reaching towards 38.2% Fibonacci retracement of the early 2015 - mid 2016 downwards move. I will enter from there. Entry: 115.851 Stop: 118.415 Target: 108.843 = R:RR 2.73
Hi, i agree with your setup. Actually it matches with a setup from another experienced trader who got the idea, that CHFJPY is in a high base consolidation around 113-115 and he would trade the outbreak above 115 on the long side.
TP 118.