2018Oct17 CHFJPY H1 Bullish Bat

CHFJPY has broken out of its channel resistance and formed a bullish bat. Upon confirmation of the bullish bias, I will go long. Stop loss is just below the X point while the take profit target is set at the 61.8 Fibonacci retracement level of the leg AD. Trade details are as follows:

Trade Setup: Bullish Bat
Price Entry 112.922
SL 112.720 | SL pips 20.2
TP2 113.37 | TP2 pips 44.8
RRR2 2.22