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Chfjpyanalysis

CHFJPY | Perspective for the new week | Follow-up detailsWe had a 100pips move in our direction since my last publication (see link below for reference purposes) and with the current structure in the market, it appears we are back on the track of a rally continuation which I projected on the 11th of July 2021 (see speculation in the link below). With the anticipation of the Swiss Producer and Import price later on in the coming week- an event termed as non-high impact, the indecision that gripped the market in the last couple of months could be coming to an end as I look forward to taking a long position on this pair as only if price action remains above my Key level @ Y119.700. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Reversal pattern (retracement) Observation: i. Like I stated in my publication on the 11th of July 2021 (see link below); The Swiss Franc lost all it had gained (over 300pips) between 29th of April and 15th of June 2021 and at the time of writing this report price remained effectively "supported" at Y119.000 tagged the Demand zone. ii. Considering the Bullish long-term perspective on this pair (see daily/weekly chart) and the inability of sellers to push below Y119.000 in the last two months, the consolidation phase that started mid-June 2021 has a tendency to do a Breakout in the coming week(s). iii. Multiple rejections of Y119.400 in the latter part of last week trading session is a clue that Bullish momentum is building in the background. iv. In this regard, I look forward to a significant breakout of Trendline which will make a confluence of Key level @ Y119.700 in the near future and a possible transition into a harmonic pattern (AB = CD) with parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is currently at 61.8% Fibonacci retracement (with a possibility of retracing into 78.6%) of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B move @ Y122.000/122.200 area. v. As long as the event unfolds to us as speculated, an opportunity to add a position may present itself to us when price successfully do a breakout/retest of Y120.000... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:7 Potential Duration: 6 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
CHFJPY | Perspective for the new week | Follow-up detailsWith a break-even position on this pair and considering the appearance of a Double top structure, I suspect that price is going through a correction phase in anticipation of a rally in the coming week hence an opportunity to take a quick trade in the opposite direction of my last speculation arises (see link below for reference purposes). Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Double Top) | Trendline Observation: i. Since the 20th of July 2021, the price has continued to find a higher high and appear to have found a roadblock @ Y121.200 following a double rejection of this level. ii. Double Top: The appearance of an extremely bearish technical reversal pattern after the price reached a peak two consecutive times (Y121.200 & Y121.130 respectively) with a moderate decline between the two highs and it is confirmed when the price fell below support level equal to the low between the two prior highs (Neckline @ Y120.500). iii. In view of my last speculation on this pair, I suspect that the double top at this juncture in the market signals a medium-term trend change in price with the anticipation of a rally in the nearest future. iv. In this regard, the neckline remains a Key level for a short-term bearish continuation. v. Please note that the early hours/days of the new week might see price climb to test Y120.750/120.900 area to incite bearish continuation...Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 80 pips. Risk/Reward : 1:3 Potential Duration: 2 to 5days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
CHFJPY AnalaysisThe weekly chart shows price to moving within a widening rising wedge. Scaling down to the D1, price is also trading within a rising wedge. I wend down to the H4 to make an even thorough analysis. Here I found that price had made a very impulsive move to the downside. This was followed by a correction which clearly broke to the upside. On the H1, a correctional retest is forming and I will be looking for opportunities to open long positions upon the break of the H1 corection. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate
Long
by Magnatrio
CHFJPY's Hello fellow risk-takers. The pair is still bearish in my books and extremely so! What is currently happening is retracement that is needed to propel price even further downwards. I expect this retracement to be deep and reach the shaded area of supply zone. The probability is quite high for price to touch this area of supply & demand imbalance and then nosedive again into a massive selloff. Happy Trading. ______ *This information is for entertainment purposes only and shouldn't be construed as investment advice.
Short
by UnknownUnicorn9837669