CHF/JPY Trading Analysis (16/05/2024)

The trend is ascending. The currency is traded in the range between 365 and 135 ЕМА. The downward inner wave structure is truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.

Trading idea:

Buy at the formation of the ascending wave structure, when the wave A breaches the sloping channel of the downward truncated structure.

Stop-Loss at 170.80 under the local minimum.

Target price levels at 171.660 and 172.650.

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