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! ❤️
