CHFJPY: Sell Opportunity
2019-12-10 19:20:22
The price reached the resistance zone formed by 110.200 and 110.400 levels. If we get a reversal candlestick pattern, it will be possible to think about selling. RSI does not reach the oversold zone yet, and the market has just a little space for the upward movement. But in spite of it, selling is a more logical direction than buying below the resistance zone.
If price bounces, it will be possible to place pending orders for sell below the signal candle, it will be the reversal candle, and stop orders above the local swing high. Profi target should be at 109.500 support level.
The market can keep sideways movement in the borders of the price channel.