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Chfjpyshort

CHFJPY: A possible UPCOMING DOWNTREND! Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : CHF/JPY ⚪ Technical Analysis : In the weekly time frame, since October 2019, the price has been moving following a clear uptrend, creating an interesting rising wedge pattern. It has currently reached a strong resistance zone but overall we still have a bullish market. In the daily time frame, on the 23th of November 2020, the price got a strong rejection on its dynamic support trendline and it moved up until the main resistance zone at about 117.200. This level rejected the price many times and it's now approaching to re-test the same zone. In the h4 time frame, as we can see in the chart, the price is moving with a clear side trend, bouncing up and down between the main support and resistance zone. The next price action will be essential to understand if the resistance zone will reject the price. 🔴 Conclusion : The price is currently following an interesting side trend and I'm confident to see an upcoming downtrend until the next support zone. I'll be waiting for the next session before planning my short position on this trade. Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Short
by FXtrades-gp
4
CHFJPY Falling From Here...Currently, we are seeing a doji candle at the resistance level @116.55. I am expecting tomorrow's candle to be strong enough to engulf this doji candle brining CHFJPY towards the downside. As we can see 117.62 resistance level is still strong with price rejection at that level. This also formed a double top pattern giving us additional BEARISH signs. I have identified the demand zone where I potentially see price testing this zone. 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
1
CHF/JPY has met resistanceCHF/JPY is at historical big resistance so do not expect this to break it. This past week it has rejected off this resistance and I would expect it to continue down to test the daily support at 116.20. JPY is very strong at the moment so it could easily break this support. Short term target is 0.5 Fib which is 115.765. Longer term target could see this retest previous resistance around 114 level. In the past when it has rejected this level it has fallen to 109-107.
Short
by olly48
Trade idea for CHF/JPYWhen we look at the chart we can see that the price has been testing the resistance area in the daily chart . We see that the price isn't able to go above it for now so we could risk the trade. The risk reward is very good but I think that this is a trade that will take a while to hit the tp. When the tp1 is hit you should move the stop loss to break even level. Please let me know in the comments what you think of it and share your idea for this pair also. If you like the idea, don't forget to give it a like then.
Short
by MaBaCapital2
1