Multi-year Resistance Breakout
After 4 years, CHFJPY has broken this multi-year resistance level in the weekly timeframe chart.
In the 4-hour timeframe chart, CHFJPY has broken the resistance level after a long time.
It has given Double confirmation in both higher and smaller timeframes chart.
After the confirmation of uptrend movement, the CHFJPY Buy signal is given.
CHFJPY has reached the take profit target successfully.
A Big Bull run started
As per our previous CHFJPY Breakout analysis, we recommend our users to buy and hold CHFJPY for the long term (click here to see).
A big move is started on CHFJPY.
Hold the CHFJPY for the long term.
US Dollar posted a more substantial gain against the Japanese yen after CB consumer confidence rose to 121.7 in April from 109 in March.
Bank of Japan left interest rates unchanged at -0.1% and cut its consumer inflation forecast to 0.1% from earlier predictions of 0.5%.
And Retail sales increased by 5.2% on YoY, but inflation overcomes these numbers.
Japanese Government concentrate on Businesses to close to avoid the spread of Covid-19 and put down more restrictions in Tokyo, Osaka.
Japanese yen hurt more against Major currency pairs like US Dollar, GBP, EUR, CHF, AUD and NZD dollar.
We are expecting a very big bull move on CHFJPY soon.
Reason: CHFJPY market has broken the Multi-year resistance level after 4 years.
Catch this big bull now to hold your profits for the long term.
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