The Swiss Franc/ Japanese Yen pair appear to be on a strong bullish direction since September 2016. However, since January 2023, we can see a steeper and stronger bullish pressure on the pair.
The CHF/JPY pair is currently trading in a swing Premium level, and has been for months, but while we predict that the pair should sell, Fundamentals has also been adding to the massive gain in the CHF pair. Our confluences for a Bullish trend continuation include:
1. HTF bullish trend.
2. FVG range (146.402-149.287) is unbroken, but instead acts as a SUPPORT LEVEL.
3. Price hasn't still reached our main Point of Interest (POI, which is at 158.520).
4. Price is currently at Equilibrium on the Daily chart.
Therefore, we are expecting a consolidation on the 50% level, before an expansion towards 155.583. Let's be expectant between today and Friday.
The CHF/JPY pair is currently trading in a swing Premium level, and has been for months, but while we predict that the pair should sell, Fundamentals has also been adding to the massive gain in the CHF pair. Our confluences for a Bullish trend continuation include:
1. HTF bullish trend.
2. FVG range (146.402-149.287) is unbroken, but instead acts as a SUPPORT LEVEL.
3. Price hasn't still reached our main Point of Interest (POI, which is at 158.520).
4. Price is currently at Equilibrium on the Daily chart.
Therefore, we are expecting a consolidation on the 50% level, before an expansion towards 155.583. Let's be expectant between today and Friday.