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Chfjpyforecast

CHFJPY Still BULLISH...Possible Rejection From Here!!!We managed to see a nice 261.8 fib level rejection followed by a BEARISH movement back to 161.8% fib level. Also, price level is currently near my moving averages which I expect a possible rejection here. Looking at the chart, we can see great BULLISH pressure holding CHFJPY for now. It have yet to breakout of the BULLISH climb momentum. Having said that, I expect movement to minimally test the 261.8% level once again with a potential breakout bringing price to the next fib level. 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!!
Long
by YGForex
4
CHF/JPY Long From SupportBig correction seen on JPY pairs today. This is back into a support level now, need to see it hold up here and there should be a very good long opportunity. Can use the 4HR and 1HR timeframes to pinpoint the best entry point, it has shown no sign of turning higher or slowing down yet but it should do soon. MACD is well above 0 so still bullish and EMA's have not crossed for short yet and we want to see it stay that way for a long entry. Target can be set at 119.917 although there will be some resistance around 119.000 so could exit the trade there to secure the profit.
Long
by olly48
CHF/JPY could RISE!Hey tradomaniacs, CHF/JPY with the second attempt to break above the key-resistance-zone 👉 It looks like this is a valid breakout with a continuation very soon! Comparing both moves above the resistance you can see that the price has found demand and flipped the previous upper trendline into a support. Volume, volatility and momentum has been very bullish so far as. 1️⃣ Volatility Has been low with the breakout compared to the false breakout in the past. A high ATR-Value and so volatility is often a sign of stop-loss-fishing. 2️⃣ Volume In scenario one the volume was not chasing the price to the upside showing refusal of higher prices. Additionally, open interest was very weak at the breakout-zone. Now we can clearly see that the market accepts higher prices and follows the current momentum. I`m watching this pair and look for a long-entry as soon as price breaks the above the previous highs as a potential double-top is still possible. LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me!
Long
by Trading2ez
6
CHF/JPY Looking To Breakout Above Big Monthly ResistanceThis is at a big monthly resistance level, it has rejected this level a number of times but I think it is likely to breakout above this soon as the price has been more stable than its previous attempts which were big spikes to this price. Price action is currently bullish as seen on MACD and EMA's, I want to see the breakout confirmed and then the support created before entering a long. After this a target of 121.950 can be set with SL below the support.
Long
by olly48
CHFJPY | Perspective for the new weekThe Bullish run that begun mid-November 2020 gets caught and sandwiched in a Bullish rectangle pattern until it finally broke out of the range last week. This development hereby gives rise to a trading opportunity that we might exploit in the coming week(s). Tendency: Uptrend ( Bullish ) Structure: Channel (Bullish rectangle) | Breakout | Supply & Demand Observation: i. Bullish Rectangle: This pattern is described by horizontal lines showing significant Demand and Supply level which has been respected since late last year (2020). ii. A successful Breakout of my Key level @ Y117.250 during the course of last week trading session is a signal pointing towards the idea that price might be anticipating new highs in the coming week(s). iii. After the Breakout, price is presently going through a corrective phase and patience is required to ascertain where Buyers are going to resume the rally. iv. My new and propose Demand level in the coming week shall be around Y116.650/117.200 where engulfing candle springing out of this zone might be a signal to follow. v. It is important to state here that if the price significantly comes down Y117.250 and extend into Y116.400, I shall revert to my previous set up on this pair (see link below for reference purposes). Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 2 to 7 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.
Long
by darcsherry
2
CHF/JPY could PUMP soon!Hey tradomaniacs, after a long consoliidation we finally see an attempt to break out of the consolidation and key-resistance in order to continue the trend. A daily candle-close will be very important for the market as a confirmation for a breakout. If we get a clean and nice rejection at the resistance we should give it a try and go long with a very awesome risk-reward. LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me!
Long
by Trading2ez
5