- Support and resistance levels are crucial in range-bound markets.
- Support prevents prices from falling further, resistance stops prices from rising.
- Traders use technical indicators and chart patterns to identify these levels.
- Prices can break through support and resistance levels.
- Traders make decisions based on these levels alongside other factors like...
Daily - looks good for shorts as long as price stays below 167.982. if price holds above 168.865, we switch bias to long.
Origin - not fully aligned with daily. right now price looks good for longs but considering daily, that move could be short lived. so I will look for fresh shorts only after price clears 167.471
BOJ dovishness has been somewhat being positive for most JPY pairs especially CHFJPY. As we can see on the chart, the market is hovering around weekly demand structure and from here, I believe we will keep on moving south in the forthcoming weeks.
Trade safe!
Carpe diem!
This Weekly FORECAST
Opportunity for CHFJPY. This setup trading idea is for swing. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
Drawing from insights gleaned on the daily timeframe, an auspicious opportunity emerges to initiate a buy position on CHFJPY at the current juncture. Despite the inherent risk, this analysis suggests a favorable upside potential in the forthcoming sessions. Let us observe attentively as market dynamics unfold, monitoring closely the progression of this strategic trade.
This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
The CHFJPY has shown a significant upward trend, staying above the swing low. This suggests strong demand for this pair, meaning there's a lot of interest from buyers. So, we're looking to place a buy order and aim for profits based on how the market is moving.
This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
CHFJPY failed to renew the recent low and is moving near the psychological level of 167.000.
The chart is forming a rounded bottom, which indicates an imminent reversal of the price direction.
We expect a correction of the price drop after the chart fixes the nearest level.
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Share your opinion in the comments and support the idea with like....
The price has been moving in the Descending channel for more than a month. March 27 - the price reached the lower level of the channel, which gave the mood to BUY. However, on the way we have a strong level - 167.280. This zone will slow down the price.
But yesterday the price still consolidated at this level. This means that now she has enough strength to take...
Pair is ranging, expecting a drop to the downside for a clean buy entry, bulls haven't taken over full momentum but will steadily note the reaction to buy entry.
We determined the support and resistance levels. The price has the potential to decrease . From the current price level, I expect the price to decline, we have determined the entry point by obtaining confirmation from the indicators
