FX.co ★ Trading idea for the CHF/JPY pair

There is a high chance that CHF / JPY will break above 118 soon. And since that level is the pair's yearly high, a deep correction may follow. In such a case, it is best to open short positions from 118.756 or higher, with sell limits at 50-100 pips.

Expect the price to jump by approximately 300 pips, corresponding to 3-6 sell limit orders.

If the first transaction already gives 100 pips, take profit.

Otherwise, add 1 pip on the first order.

Grid trading is used in this idea.

Good luck!