CHF/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 169.142 which is a pullback support that aligns close to the 23.6% Fibonacci retracement level.
Stop loss is at 167.923 which is a level that aligns with the 38.2% Fibonacci retracement level and sits under a pullback support.
Take profit...
CHFJPY isn't a pair I typically trade, but I'm sharing this analysis by popular request from my followers. My trading approach is all about simplicity – if the market's signals aren't crystal clear, I hold back. That's why I always emphasize patience as a virtue and knowledge as your key to success. After all, if you don't win, at least you don't lose. 🙂
On the...
A rising wedge is taking shape in CHFJPY, accompanied by a noticeable divergence on the chart. There's a likelihood of a reversal in the upward trend. I am prepared to enter the trade upon the breakout of the trend line.
I'm curious to hear your thoughts on this setup.
Cheers!
CHFJPY has recently formed a rising wedge pattern, and there is now a breakout occurring at the lower boundary. This breakout is anticipated to lead to the formation of a corrective leg, with the potential for a retracement back towards the 50% level of the current bullish trend. Additionally, the 50% level aligns with a significant key zone, providing a...
CHF/JPY Correlation with Yen Futures, using our Price Action charts we could see a possible fall from the strong high 173.50 where there is the High Liquidity Zone. Next strong support is at 160.80. Signal coming once confirmed. Chris
CHF/JPY moving into a High Liquidity Zone 1.6990, holding onto market structure a liquidity grab would send the price to 171.50 where there is a strong High 53%. Chris
CHFJPY Price is currently in a 4H Uptrend channel. It is hovering near the 170.000 psychological level, as well as the 4H Demand.
I will be looking for entries the moment price taps into the 4H Demand and forms a bullish rejection at 169.300 - 169.600.
I expect price to continue heading its way upwards to the 172.000 psychological level, following the channel.
Hello traders!
‼️ This is my perspective on CHFJPY.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for longs. My point of interest is if price rejects from bullish order block + institutional mid figure 169.500.
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The price of CHFJPY will most likely collapse soon enough, due to the supply beginning to exceed demand which we can see by looking at the chart of the pair.
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The price is overall in the bullish trend and price is testing support level. The market updated swing highs and fix above the 170.000 level. I think the price may rise from the support and reach the resistance because the broke through the range zone and made new high. My goal is resistance at 170.700
Traders, if you like this idea or have your own opinion on...
A glimpse of the CHFJPY in the first half of 2024
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