Take Profit 1 - 164.93
Take Profit 2 - 164.43
Take Profit 3 - 163.93
Stop loss - 166.73
The CHFJPY pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 165.73, and a sell entry point of 165.73 is just above the recent low of 165.53.
There are a few reasons why CHFJPY could continue to fall in the near term. First, the Swiss franc is generally seen as a safe haven currency, and it has been strengthening against the Japanese yen as concerns about the global economy have grown. Second, the Swiss economy is expected to grow more slowly than the Japanese economy in the near term. This is due to a number of factors, including the aging population and the ongoing trade tensions with China. Finally, the Bank of Japan is expected to keep interest rates low, which could put downward pressure on the JPY against the CHF.
Technical analysis:
From a technical perspective, the CHFJPY pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.
Fundamental analysis:
The Swiss economy is expected to grow more slowly than the Japanese economy in the near term. This is due to a number of factors, including the aging population and the ongoing trade tensions with China. However, the Bank of Japan is expected to keep interest rates low, which could put downward pressure on the JPY against the CHF.
Risks:
There are a few risks to consider before entering a trade on CHFJPY. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a rise in the CHFJPY pair. Second, the Bank of Japan is expected to intervene in the forex market to prevent the JPY from falling too far. Finally, the Japanese economy is facing some headwinds, such as the aging population and the ongoing trade tensions with China. These headwinds could weigh on the JPY and lead to a rise in the CHFJPY pair.
Overall:
I think CHFJPY is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.
Here are some additional factors that you may want to consider before entering a trade on CHFJPY:
The economic outlook for Switzerland and Japan.
The level of volatility in the forex market.
The price of commodities, such as oil and other manufactured goods.
Take Profit 2 - 164.43
Take Profit 3 - 163.93
Stop loss - 166.73
The CHFJPY pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 165.73, and a sell entry point of 165.73 is just above the recent low of 165.53.
There are a few reasons why CHFJPY could continue to fall in the near term. First, the Swiss franc is generally seen as a safe haven currency, and it has been strengthening against the Japanese yen as concerns about the global economy have grown. Second, the Swiss economy is expected to grow more slowly than the Japanese economy in the near term. This is due to a number of factors, including the aging population and the ongoing trade tensions with China. Finally, the Bank of Japan is expected to keep interest rates low, which could put downward pressure on the JPY against the CHF.
Technical analysis:
From a technical perspective, the CHFJPY pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.
Fundamental analysis:
The Swiss economy is expected to grow more slowly than the Japanese economy in the near term. This is due to a number of factors, including the aging population and the ongoing trade tensions with China. However, the Bank of Japan is expected to keep interest rates low, which could put downward pressure on the JPY against the CHF.
Risks:
There are a few risks to consider before entering a trade on CHFJPY. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a rise in the CHFJPY pair. Second, the Bank of Japan is expected to intervene in the forex market to prevent the JPY from falling too far. Finally, the Japanese economy is facing some headwinds, such as the aging population and the ongoing trade tensions with China. These headwinds could weigh on the JPY and lead to a rise in the CHFJPY pair.
Overall:
I think CHFJPY is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.
Here are some additional factors that you may want to consider before entering a trade on CHFJPY:
The economic outlook for Switzerland and Japan.
The level of volatility in the forex market.
The price of commodities, such as oil and other manufactured goods.