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Chfjpyanalysis

CHFJPY - Rejected at 118, 10 times since 2018As the weekly chart shows, this pair has been rejected multiple times at the resistance zone located between 118.80-116.70 region since early 2018. The best entry was a week ago, but I am hoping for a retracement to about 116.80 or higher that will give me a good entry next week. Target can be located at support below in the low 114 region. This could be a +3.2R trade, but it requires some patience to see it through this low volatility holiday period. If you like my analysis, please give it a "thumbs up" and follow me to get immediate notifications. As always, please use sound money and risk management in all your trades.
Short
by Trading_Vista
2
CHFJPY Weekly AnalysisCJ appears to have created a bearish 3 drive strike pattern, as of now I believe price will reach the -27% (116.346) on the fib, and keep falling to the -68% (115.959). The market may gap up as soon as it opens and move up more to create a much more clear 3 drive strike pattern on the 4hr before falling but ultimately I think price is headed towards the bears because price reached the highest it has been this year and immediately turned around. What do you guys think?
Short
by lobfxempire
CHFJPY | Perspective for the new week60pips against us since my last publication on this pair (see link below for reference purposes); Price finally touches Y117.500 zone just like it did in August 2020 to make a Double Top structure. This was met with rejection followed by Lower Lows in the latter part of last week trading session. Tendency: Downtrend ( Bearish ) Structure: Reversal pattern | Supply & Demand | Double Top Observation: i. Since July 2020, price action has been caught within a channel of Supply and Demand. ii. The appearance of a Reversal pattern since price hits Y117.500 has given rise to a risk of further decline in the coming week(s). iii. I shall be expecting a significant Breakdown of Key level @ Y116.400 (Neckline) for a signal this week. Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3 Potential Duration: 5 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, 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
3
Short Opportunity For CHFJPY!!! Retest Candle...As we can see, 117.62 price level has been a strong resistance line for CHFJPY with 116.55 price level resistance level being a weaker resistance. We managed to see several breakout of 116.55 resistance level which eventually tested 117.62 price level where there are several rejections off that level. As of now, what we managed to see is a rejection off that resistance line moving back 116.55 price level. Today's candle was more of a retest candle which retested the resistance zone (red area) before further bearish continuation. For now, I will be seeing a potential short opportunity to the support zone (green area). Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
3
CHFJPY Top-Down Analysis (Short then Long)Hello Traders, Here is the Top-Down Analysis of CHFJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 50 - Dec 07 M > Market is moving in a well respected horizontal structure. It reached monthly resistance coinciding with structural resistance (last touch was in Sept 2018) and after rejection dropped till 0.5 Fib level on last monthly bullish impulse. Price is now moving to the upside to probably test structural resistance again. W > Price has been bullish for past 2 weeks and has tested weekly resistance. D > Price lost momentum while approaching weekly resistance also coinciding with daily supply zone, we can expect correction to the downside before price makes an attempt to test structural resistance again. It can drop till 116.1 to test the level as support. As per COT CHF closed Long and added few Short with strongly +ve net positions.. SXY has been gaining strength for past 3 weeks with a massive gain last week. We can expect some correction this week for SXY as strong bearish divergence can be seen. JPY again saw addition of major Long and some Short positions improving net positions to highest in this year. JXY however weakened during the said period and was indecisive last week ending in a Doji. We can expect strengthening of JPY this week. With expected correction for CHF and strengthening of JPY the pair can drop for correction. 4H > Currently price has lost momentum but continuing with HH and HL, we can see bearish divergence and price must make a LL to confirm corrective move. Pair Correlation > CHFJPY has positive correlation with EURJPY. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX