LONG CHF/JPY (Medium to long term trade)

Hello Traders!!!

Here is the wonderful trading opportunity for investors and traders who holds their position at least a couple of quarters.
Once you’re in there is no going back.

O: 114.80 SL: 108.80 TP: 130.00 Risk: Reward= 1:2.5

According to attached monthly candlestick chart we can clearly see :

[li]The uptrend has just started to rally again at its 38.2 retracement level.[/li] [li] The Elliott wave is clearly forming at present[/li] [li]RSI holds support at 42.11 range & it hasn’t been broken through since March 2009. [/li] [/ul]

On the fundamental side we know that Japanese Economy is falling into recession & there is more QE & monetary easing policies to be implemented in near future. So the trade setup is favouring our side.

Note: Please note this analysis is my own opinion & I may be wrong on my predictions. Therefore I’m not responsible for your loss/profit. Trade with your own risk.

I wish you all the best of luck.