CHFJPY - Trading Idea ( Short Trade 400 PIP )

🎗️Pair of Name : CHFJPY ( Switch Franc Japanese Yen )
🕞Time Frame : 8h
✔️Direction : Short
➕Type : Trend line Break & Retest / Major / Main Up Trend line
🎓Educational setup
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🏷️Description
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As we can see, price just broke out of this channel band and along with that this trend line. + There is a major resistance at that area. So short is confirmed the entry point for this trade will be at the retest of the trend line if the trend line doesn't retest. the new entry point will be at 169.000$
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🗨️before you take this trade or take just my word, remember, risk management always 1 : 3. And take profit on the way up to the target!

Comment:

NEWS 04.03.24 📅: The Consumer Price Index (CPI), released by the Swiss Federal Statistical Office on a monthly basis, measures the change in prices of goods and services which are representative of the private households’ consumption in Switzerland. The CPI is the main indicator to measure inflation and changes in purchasing trends. The YoY reading compares prices in the reference month to the same month a year earlier. Generally, a high reading is seen as bullish for the Swiss Franc (CHF), while a low reading is seen as bearish.

Comment:

NEWS 04.03.24 📅: The Tokyo Consumer Price Index (CPI), released by the Statistics Bureau of Japan on a monthly basis, measures the price fluctuation of goods and services purchased by households in the Tokyo region. The index is widely considered as a leading indicator of Japan’s overall CPI as it is published weeks before the nationwide reading. The gauge excluding food and energy is widely used to measure underlying inflation trends as these two components are more volatile. The YoY reading compares prices in the reference month to the same month a year earlier. Generally, a high reading is seen as bullish for the Japanese Yen (JPY), while a low reading is seen as bearish.