CHFJPY: How to Trade

The market gives us a bullish trend based on the 1H chart. It is not a good idea to join this trend, but an attempt to catch a trend reversal looks much more interesting. If we sell, we will be able to follow a correction movement from the higher timeframe. It is a good plan.

MACD is going to support a downward movement. The same goes about RSI, which also confirmed a price reversal from 111.800 level.

We can open sell trades based on a breakout signal. For this, the price will have to pass drop below the uptrend line. But if the price continues the uptrend, the next sell opportunity can be at 111.800 resistance.