CHFJPY - Short Idea
The exogenous and endogenous factors are decreasing for the pair CHFJPY. However, CHFJPY's leading economic indicators are increasing. COT report RSI also shows that net positions are decreasing for CHF and net positions are increasing for JPY. Interest rate differential is also negative for the pair CHFJPY as IR for CHF decreases and increases for JPY.
Technically CHFPY is in a bearish trend making HHs and HLs and currently, it is at a strong Daily Support level. Wait for the retracement to fib 0.382 or 0.5 level to enter the trade. Place the stop loss on the previous LH.
Technically CHFPY is in a bearish trend making HHs and HLs and currently, it is at a strong Daily Support level. Wait for the retracement to fib 0.382 or 0.5 level to enter the trade. Place the stop loss on the previous LH.
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