CHF/JPY price channel developing
DailyFX trading instructor Walker England recently tweeted about a price channel developing in CHF/JPY. The general trend of the price channel is downwards, so with the pair currently trading near the top of this channel, there is an opportunity to go short at current levels.
As shown in above a profit target can be set near the bottom of the price channel at around 101.80, with a stop above the channel at around 106.30. To keep up to date with his latest trade ideas, you can follow Walker England on Twitter.
DailyFX trading instructor Walker England recently tweeted about a price channel developing in CHF/JPY. The general trend of the price channel is downwards, so with the pair currently trading near the top of this channel, there is an opportunity to go short at current levels.
http://img855.imageshack.us/img855/6379/1fhi.png
As shown in above a profit target can be set near the bottom of the price channel at around 101.80, with a stop above the channel at around 106.30. To keep up to date with his latest trade ideas, you can follow Walker England on Twitter.