Swiss Franc / Japanese YenHello dear traders,
I have analyzed the CHF/JPY (Swiss Franc to Japanese Yen) chart, which clearly indicates strong selling zones. Since this chart is in a Daily timeframe and bearish, we will focus on the selling positions of this chart and I will update it when the price reaches those levels.
I have drawn a Downtrend Line to show that if I receive confirmation above this trend line, I can update potential selling positions. Based on my analysis, you can enter buy trades up to the specified areas of Order Block (Decisional), POI (Point of Interest), and Extreme, and set your targets in these regions.
Please note that the best timeframe for getting confirmations and entries is the 15-Minute.
Fundamental Insights
Considering recent economic conditions, the Japanese Yen is under pressure from various factors, including the monetary policies of the Bank of Japan and interest rates. Although there have been some recent concerns about the strength of the Japanese economy, this may continue to apply pressure on the Yen, thus contributing to the ongoing bearish trend in this chart.
Overall, based on the fundamental situation and technical analysis, there is a likelihood of continued bearish trend in this chart. This analysis can help you make better decisions.
Wishing you all the success!
Fereydoon Bahrami
"A retail trader in the Wall Street trading Center (Forex)."
