CHFJPY - YEN RETRACEMENT OVER?The fib .618 gives the Yen a very strong support looking at the daily Index chart for Japanese Yen. Yen has been ranging within the last 2 weeks sitting right on top of the fib.618 level but yesterday broke out of range with that long green elephant bar.
A break below 172.6 level could see this pair drop harder as it has failed to reach previous high and presently consolidating.
A near perfect Broadening wedge formation somewhat indicating a reversal is looming after a long bullish trend. Usually in this case if current swing fails to reach previous high or break above it, we anticipate price to drop hard targeting Price objective for Broadening Wedge formation (160.80).
Looking out for potential SHORT scalps on this pair on the break of 172.60 level targeting next support (W1) of 169.25.
A break & close above resistance will nullify analysis.
CHFJPY trade ideas
CHF/JPY continues the downtrendOn CHF/JPY , it's nice to see a strong sell-off from the price of 171.540 and 172.500. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.
I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.
Support from the past and high volume cluster are the main reasons for my decision to go short on this trade.
Happy trading,
Dale
CHFJPY - Ascending TriangleCHFJPY is making Ascending Triangle Pattern, will it breakout to reach target?
Entry, Stop Loss & Take Profit are mentioned.
CHF Fundamentals: SNB is reducing policy rates since March 2024, SNB rate cut as from 1.25% to 1% recently may result in weak CHF.
JPY Fundamentals: BOJ is increasing policy rates since March 2024, which is causing continuous strength in JPY.
Institutional Demand: CHF/JPY longsHey,
The main pair on watch for me for the upcoming 48 hours is CHF/JPY.
Price is within daily demand and soon reaching weekly value as well.
I've adjusted the daily zone according to the HTF's.
When this zone is reached, I'll wait for entry confirmation on the LTF's.
Same plan as always.
Make sure to watch my videos to learn more.
Oh and boost this post :)
Kind regards,
Max
CHFJPY forecast On technicals, The price reacted to the bearish cypher pattern and started dropping, breaking the support level with a strong candle. It seems likely to continue its decline toward the 166 level. Right now, we’re waiting for a retest of the broken 172 support, which could be a good entry point.
On the fundamental side, Swiss GDP dropped by 0.4% in the third quarter, as expected, while The yearly tokyo core CPI rose to 2.2% from 1.8%, beating the forecast of 2.0%. This supports the yen’s strength against the CHF.
CHF/JPY Analysis The pair has shown some bearish momentum, reaching a zone of interest for potential reactions. While a short-term bounce is possible due to oversold conditions and the proximity to a key weak low, the risk here is not negligible. Market dynamics suggest this could be a countertrend move, so it's vital to manage risk carefully.
Key Observations:
Weak low interaction: The price is sitting near a potential liquidity zone, making a reaction plausible.
Risk Note: Larger trends still lean bearish; any bounce may face resistance.
Always prioritize risk management and trade responsibly!
CHF/JPY: Bearish Continuation to Key SupportsOANDA:CHFJPY is in a bearish trend, with key resistance at 175.676 and 174.148, and support targets at 172.563 and 169.414. The descending trendline suggests continued downside momentum unless the price breaks above 175.676, which would invalidate the bearish outlook. The pair is likely to retest support levels in the near term...
Lingrid | CHFJPY short from the RESISTANCE zoneFX:CHFJPY is currently pulling back to the resistance after a significant bearish move. It appears that if the price fails to break above the resistance at 172.500, as well as the downward trendline that also acts as a swap zone, it could signal a strong continuation of the bearish trend. This level has been tested multiple times in the past, which highlights its importance as a resistance zone. I am waiting for the price to roll back into this resistance area. If price action gives a clear sell signal, such as a protruding long-tailed bar, it could indicate a liquidity grab above this zone. This type of price action may suggest that sellers are stepping in, and it could present a good opportunity to short the market. My goal is to support zone around 170.300
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
GBPJPY potential drop from the resistance levels crossingThe CHF/JPY pair is retracing towards the 172.500 resistance level following a notable decline. If the price fails to surpass this resistance and the accompanying descending trendline, which serves as a swap zone, it may indicate a continuation of the bearish trend. The repeated testing of this level underscores its significance as a resistance area. A clear bearish signal, such as a prominent long-tailed bar, could suggest a liquidity grab above this zone, indicating increased selling pressure and a potential opportunity to enter short positions. The target for such a move would be the support zone near 170.300
CHFJPY expected to bottom soon. Unique long-term buy opportunityThe CHFJPY pair has been trading within a long-term Channel Up pattern for more than 2 years (since the September 22 2022 High). More recently on September 16 2024, the price bottomed on its Higher Lows trend-line and the subsequent rebound to the 0.786 Fibonacci retracement level, initiated a new pull-back that broke yesterday below its 1D MA200 (orange trend-line).
This is identical to the Channel's previous bottom formation in January 2023. The rebound that followed also got rejected near the 0.786 Fib and retraced all the way to the 0.236. Then it started a relentless Bullish Leg all the way to the 2.0 Fib extension. Even the 1W RSI sequences between the two fractals are identical and we are at the point where the RSI is about to break below its MA and give the buy signal.
As a result, we turn bullish on the CHFJPY pair, targeting 188.000 (near the top of the Channel Up).
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
OPPORTUNITY FOR SELL CHFJPYWe have these indicators for SELL opportunity:
- Reflection from the top of the parallel channel (Has been created since 2008)
- Low volume to continue the current direction
- Return/re-test to 1M high
- Resistance (6M + 3M) high
We define 3 goals:
TP 1 = 80 pips
TP 2 = 200 pips
TP 3 = 400 pips
CHFJPY - Risky short !!Hello traders!
‼️ This is my perspective on CHFJPY.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. I expect bearish price action after price filled the imbalance and rejected from bearish OB + institutional big figure 174.000.
Like, comment and subscribe to be in touch with my content!
TradeCityPro | CHFJPY The Battle Between Buyers and Sellers👋 Welcome to the TradeCityPro channel!
Let’s quickly dive into another forex trading opportunity this week, analyze it briefly, and identify entry and exit triggers.
🌍 Fundamental Insights
Swiss Franc (CHF):
Supported by safe-haven demand due to geopolitical tensions and SNB’s tight monetary policy.
Japanese Yen (JPY):
Weak from BoJ’s ultra-loose policy and disappointing economic data.
The divergence in policies between the SNB (hawkish) and BoJ (dovish) continues to favor CHFJPY’s bullish potential, especially during market risk aversion.
📊 Daily Timeframe
The pair faced rejection at 177.108, failing to continue toward the 179.691 resistance.
Sellers gained momentum, pulling the price back to the 172.592 support zone.
If today’s daily candle closes red and engulfing, a bearish continuation to a lower low is likely.
⏱ 4-Hour Timeframe
The pair is testing the key daily support at 172.592, presenting both bullish and bearish scenarios.
📉 Short Position Trigger:
Break below 172.592 could lead to a target of 170.550.
📈 Long Position Trigger:
Prolonged consolidation or a fake break below 172.592, followed by a breakout above 173.949, could indicate a bullish reversal.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️