AB=CD Pattern Identified in CHFJPYA harmonics pattern has formed in CHFJPY in the absence of divergence
CHFJPY trade ideas
CHFJPY buy tradeBased on the latest technical analysis for the CHF/JPY pair on the H4 (4-hour) chart, here's a bullish perspective:
1. *Support Levels: The CHF/JPY pair has shown support around the **167.450* level, indicating a strong base for potential upward movements³.
2. *Moving Averages: The pair made a breakout above the simple moving average 30, which is a bullish signal. However, it's important to note that there was a strong rejection in the next candle, closing within **169.620*³.
3. *Technical Indicators*:
- *RSI (14): The Relative Strength Index is at **53.97*, which is neutral and suggests that there is room for upward movement before the pair becomes overbought².
- *MACD (12,26)*: The Moving Average Convergence Divergence is showing a slight sell signal, but this could be part of a larger bullish consolidation pattern².
- *ADX (14): The Average Directional Index is at **26.566*, indicating a moderate trend strength that could support a bullish trend continuation².
- *CCI (14): The Commodity Channel Index is at **147.7246*, which is a strong buy signal indicating bullish momentum².
4. *Pivot Points: The current pivot points suggest that the pair has room to move upwards, with resistance levels to watch at **169.10* and *169.15*².
5. *Overall Sentiment*: The overall sentiment from various analysts suggests a bullish outlook for the CHF/JPY pair, with expectations of further rises¹.
Please note that while the analysis points towards a bullish sentiment, the forex market is highly volatile and subject to rapid changes influenced by economic events, news, and other factors. It's crucial to use proper risk management and stay updated with the latest market developments.
CHFJPY MAY 2024 WEEK 2 OUTLOOK -
Daily - neutral. we have a no man's land as long as the price remains in the zone - **171.613 - 167.359**. if we break out of this zone and price holds, then we can look to get involved.
Origin - looks bearish. as long as we remain below **169.654** bias will be bearish here. once price falls below **168.130** any short position shall be closed as we will be inside daily POC.
CHFJPY BULLS IN ACTIONBullish Confluences in Price
1. 0.79 fib retracement
2. Bounce off the 100 Moving Average
3. Daily FVG (fair value gap)
4. an indecision candle stick pattern
these confluences are indicative of a bullishness in the CHFJPY pairs,and we can expect to see higher prices on this pair in the lower timeframes
AUDCAD Trend Analysis - Forecast - Monday 6th May 24Currently trading below the daily SMA in an uptrend, waiting for price to show signs of a reversal in the daily structure by testing or crossing the SMA prior to what would appear to be phase d of an accumulation structure on the daily or 4 hour timeframe.
#Wyckoff #TapeReading
Wyckoffian Trend Analysis
CHFJPYCHFJPY is in strong bearish trend.
As the market is consistently printing new LLs and LHs.
currently the market is retracing a bit after last LL, which is 50% Fib retracement level and local support as well. if the market successfully sustain this selling confluence the next leg lower could go for new LL.
What you guys think of this idea?
CHFJPY SELLFormation of ending diagonal/rising wedge on CHFJPY with a clear cut rejection. Wave 'B' is completed and is prepared for wave 'C'. Goodluck.
JAPANESE YEN NDEXUpdate on the YEN. I believe in a few weeks Price would hit "main" upper channel (trend) line. Just bouncing off the dotted upper trend line. Will update as it makes progress.
CHFJPY I Long target to 170.36 after recent BOJ InterventionWelcome back! Let me know your thoughts in the comments!
** CHFJPY Analysis - Listen to video!
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Waiting for a possible retest for a buy near todays lowWaiting for a possible entry. Looking at the recent movement , price has been making higher highs and higher lows on the daily time frame. Chart patterns like Harmonic Bat pattern and AB=CD pattern could be a likely confirmation for our bias. Waiting for price to retest our recent support at 167.078
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CHF/JPY - 1H - BULLISHCHF/JPY - 1H - BULLISH
Trade Plan
Bullish Divergence
Break of previous LH
Entry on Fib 0.382 Retracement
Buy Limit - 164.795
SL - 164.087
TP 1 - 165.503
TP 2 - 166.211
LOT: 0.41 (2%)
CHFJPYIn CHFJPY, the daily timeframe reveals a bearish trend, characterized by an ascending channel and a rising wedge pattern. With the price reaching a new high level, there's a strong indication of potential downside movement ahead. Traders may anticipate a reversal or correction as the price action suggests exhaustion within this pattern.
CHFJPY Potentially the Final Top HereCHFJPY Potentially the Final Top Here, record highs, time for a correction
CHFJPY DOWN! 🔻Near-term outlook: Is the Swiss Franc going to get stronger or weaker against the Yen in the coming weeks?
In two months the Swiss Franc-to-Yen exchange rate is forecast to trade at 160.8 (Q2 2024), 6.46% lower compared to today's price.
Medium-term outlook: Is the Swiss Franc going to rise or fall against the Yen in the coming months?
In five months the Swiss Franc-to-Yen exchange rate is forecast to trade at 159.25 (Q3 2024), 7.36% lower compared to today's price. In eight months the expected rate is at 159.9 (Q4 2024), 6.98% lower.
Longer-term outlook: Is the Swiss Franc going to strengthen or weaken against the Yen in the coming years?
In eleven months the Swiss Franc-to-Yen exchange rate is expected to trade at 159.1 (Q1 2025), 7.45% lower. Then in one year and two months the expected rate is 8.67% lower at 157 (Q2 2025), and in one year and five months the expected rate is 10.99% lower at 153 (Q3 2025), and in one year and eight months the expected rate is 14.48% lower at 147 (Q4 2025).
JAPANESE YEN INDEXLet's see what happens further on this level (lower trendline). Touched trendline and bounced off. Could mean a reversal in the looks with that doji candle.
SELL CHFJPY 💲💀💲 №339FX:CHFJPY
Trading Forex and other financial products with leverage is highly risky and can result in substantial losses. Trading in the market may not be suitable for everyone. You need to be aware of all the risks and seek the help of independent financial advisors if you have any questions or doubt
SELL CHFJPY 💲💀 №330FX:CHFJPY
Trading Forex and other financial products with leverage is highly risky and can result in substantial losses. Trading in the market may not be suitable for everyone. You need to be aware of all the risks and seek the help of independent financial advisors if you have any questions or doubt
BUY CHFJPY 💲💀💲 №323FX:CHFJPY
Trading Forex and other financial products with leverage is highly risky and can result in substantial losses. Trading in the market may not be suitable for everyone. You need to be aware of all the risks and seek the help of independent financial advisors if you have any questions or doubt
CHFJPY | MT Short H4 | The Battle of 2 Safe HavensPair: FX:CHFJPY
Timeframe: H4 - Medium Term (MT)
Direction: Short
Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames
- Price action may face some resistance from a previous support line
- Price has retraced to 61.8% Fib Retracement Level
- Aiming for the lower Support trendline from the mid of 2023
Fundamental Confluences for Trade:
- SNB has been repeatedly concerned about a strong CHF while BOJ is concerned about a weak JPY
- These levels may see BOJ intervening to stop the Yen weakness and vice versa for SNB
- SNB is the first developed nation to start their cutting rate cycles and BOJ has just started hiking
Suggested Trade:
Entry @ Area of Interest 169.50 - 170.20
SL @ 170.84
TP 1 @ 168.68 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 167.18
Risk-to-Reward @ Approx. 2.31 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
CHFJPY in the first half of 2024A glimpse of the CHFJPY in the first half of 2024
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CHFJPY!We can see a corrective phase taking form but for this one, the risk to a safe buy seems dear.
We will just watch it.
Trade with care use a stop loss.
