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CHFJPY trade ideas

CHFJPY - GTP 80% - DOWN - 700 pipsBased on the latest COT data for CHF/JPY: Long OI: 6,491 (6.58%) Short OI: 56,284 (57.04%) Net positions: -49,793 (Bearish) The data shows an increase in long positions but a significant dominance in short positions, indicating a strong bearish sentiment. The probability of further downside movement remains high based on these figures and the downtrend visible on the chart. The target remains at the previously identified level. What target price level and % ChatGPT Based on the chart and the latest COT data for CHF/JPY: Target Price Level: The target level on the chart is identified around 168.000. Percentage Probability: Given the bearish sentiment reflected in the COT data and the ongoing downtrend, there is an estimated 80% probability of continuation lower to reach this target level.
Short
by NZ_Shareman
chfjpy sell tradeHere's a bearish technical analysis for CHF/JPY on the H4 charts: 1. **Trend Analysis**: - The overall trend on the H4 chart shows a bearish momentum. The price has been making lower highs and lower lows, indicating a downtrend. 2. **Moving Averages**: - The 50-period and 200-period moving averages are above the current price, which is a bearish signal. The price is also below the 20-period moving average, reinforcing the bearish sentiment. 3. **Support and Resistance Levels**: - **Resistance**: The nearest resistance level is around 177.00, which aligns with the previous swing high. - **Support**: The immediate support level is at 175.50, which is a recent swing low. A break below this level could lead to further declines. 4. **Fibonacci Retracement**: - The price is currently hovering around the 38.2% Fibonacci retracement level from the recent high to low. A break below this level could see the price targeting the 50% and 61.8% retracement levels, which are around 174.50 and 173.50, respectively. 5. **Technical Indicators**: - **RSI**: The Relative Strength Index (RSI) is below 50, indicating bearish momentum. - **MACD**: The MACD line is below the signal line, and both are below the zero line, which is a bearish signal. - **Stochastic Oscillator**: The Stochastic Oscillator is in the oversold territory, suggesting that there might be a short-term pullback before the downtrend continues. 6. **Chart Patterns**: - There is a potential bearish flag pattern forming, which could indicate a continuation of the downtrend if the price breaks below the flag's lower boundary. 7. **Volume Analysis**: - The volume has been decreasing during the recent upward corrections, suggesting that the bullish moves are weak and the bears are likely to regain control. In summary, the CHF/JPY pair on the H4 chart shows several bearish signals, including a downtrend, bearish moving averages, and bearish technical indicators. Traders should watch for a break below the support levels and the continuation of the bearish patterns for potential short opportunities. Source: Conversation with Copilot, 7/23/2024 (1) CHFJPY Chart, Rate and Analysis — TradingView. www.tradingview.com (2) CHFJPY technical analysis - TradingView. www.tradingview.com (3) CHF/JPY Technical Analyses - Forex - CentralCharts. www.centralcharts.com (4) CHFJPY technical analysis - publisher.fxblue.com. publisher.fxblue.com
Short
by Mansa_Musa_Capital
CHFJPY Set To Fall! SELL! My dear friends, CHFJPY looks like it will make a good move, and here are the details: The market is trading on 176.97 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 176.67 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
CHFJPY: Consolidation & Completed IndecisionThe CHFJPY is currently confined to a tight range, bounded by two key horizontal levels. The price's response to these levels will determine the next move. Two possible scenarios: Bullish Scenario: A break and close above 177.87 could spark a rally towards 179.00. Bearish Scenario: A break and close below 175.83 may trigger a decline to 174.80. Let's wait patiently for a breakout to occur, which will dictate the next price movement. Though I am bullish bias
Long
by linofx1
1
CHFJPY: A move above the pattern can push CHFJPY up againCHFJPY: A move above the pattern can push CHFJPY up again All the JPY pairs declined aggressively after the market was speculating about a possible rate cut by the FED. However the JPY strength is related more with the BOJ actions rather than FED. Technical analysis: PRice is moving inside a triangle pattern. A move of the price above the pattern should push it up again as it is showing on the chart. ONLY BOJ can push the price down again or FED. But FeD has a limited move as we can see. Thank you and Good Luck
Long
by KlejdiCuni
2
CHFJPYSwiss Franc / Japanese Yen is overbought on daily timeframe and making itself prepared for a retracement with the following reasons: Fundamental: Dollar Strength: Analysts point to a possible bearish Elliott Wave pattern in the Dollar Index (DXY) which might translate into weakness for CHFJPY. The Swiss Franc often moves in line with the Dollar. Technical: Bearish Divergences: Some analysts see signs on the hourly chart that could indicate the recent CHFJPY rally is losing steam. These bearish divergences might suggest a potential sell-off if prices fall below a previous low. Sentiment: Overall Bearish Market: There's a prevailing sentiment that the broader market is leaning bearish, which could lead to a pullback in CHFJPY along with other currency pairs.
Short
by abidhaider
2
CHFJPY Bank Bearish Robbery PlanMy Dear Robbers / Traders, This is our master plan to Heist CHFJPY Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Short entry. Our target is Green Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Stop Loss : Recent Swing High using 3h timeframe Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.
Short
by Thief_Trader