CHF/JPY Trading Analysis (20/05/2025)
The trend is ascending. The currency pair is testing the 200-day exponential moving average (EMA). The downward wave structure has been truncated. There is bullish divergence on the Awesome Oscillator and the Stochastic Oscillator indicates an oversold condition.
Trade idea:
- Buy when the ascending wave structure begins forming and wave A breaches the sloping channel of the truncated descending structure.
- Stop-loss at 173.200.
- Price targets are 174.530 and 175.620.
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