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Trading tips for CHF/JPY

Trading tips for CHF/JPY

CHF/JPY gained 20,000 pips over the past year. It earned several times on corrections after the breakdown of yearly highs. And since the pair didn't react to the 2020 crisis, it can be taken as one of the safe ones for grid trading.

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Trading tips for CHF/JPY

On Wednesday, the pair broke through 125.338, opening opportunities for sell limits.

Trading tips for CHF/JPY

This means that starting from 125.338, traders can open grids in an increment of 300-500 pips. Take profit after a breakout, either at 1 pip above the first order or after a 1,000 pip rise.

This strategy is called grid trading, which is usually used on cross rates. It involves holding positions that are significant in time and distance. For this reason, we recommend using swap-free accounts, not increasing the volumes in the grid (0.01 standard lot for every $ 1000 of the deposit) and monitor price movements.

Good luck and have a nice day!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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