CHFJPY - Support & ResistanceThe pair is range bound for quite some time and can move in either direction. Long and short trade plans are shared with SL.
CHFJPY trade ideas
DeGRAM | CHFJPY the hammer signals a reboundCHFJPY has reached important levels, under which it is now trying to consolidate.
The price corrected by 38% from the last upward impulse.
The chart has formed a reversal candlestick pattern Hammer.
We expect a rebound from the current level.
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Idea Sharing: CHFJPY Upward Momentum with CautionOverview:
In recent analysis, the CHFJPY pair has shown signs of potential upward momentum. However, while bullish sentiment may prevail, it's essential to exercise caution due to the possibility of retracements, or even deep retracements, along the way.
Reasons for Upward Momentum:
Safe-Haven Dynamics: The Swiss Franc (CHF) and Japanese Yen (JPY) are both considered safe-haven currencies. During times of uncertainty or market volatility, investors tend to flock to these currencies, driving up their value against riskier assets. Recent global economic uncertainties or geopolitical tensions may be contributing to this flight to safety.
Technical Analysis: Technical indicators, such as moving averages, MACD (Moving Average Convergence Divergence), and RSI (Relative Strength Index), may be signaling bullish trends in the CHFJPY pair. Breakouts above key resistance levels or bullish chart patterns could further support the case for upward momentum.
Fundamental Factors: Economic data releases, central bank policies, and geopolitical developments can all influence currency pairs. Positive economic indicators from Switzerland or Japan, along with central bank statements indicating a stable or improving economic outlook, could bolster confidence in the CHFJPY pair.
Cautionary Notes:
Retracement Risk: Even in the midst of upward momentum, markets rarely move in a straight line. Traders should be prepared for retracements, which are temporary pullbacks in price within the context of an overall trend. These retracements could be shallow, testing support levels, or deep, potentially triggering stop-loss orders.
Volatility Concerns: CHFJPY, like any currency pair, is susceptible to sudden bouts of volatility. External factors such as unexpected economic data releases, geopolitical events, or shifts in market sentiment can lead to sharp price movements. Traders should be mindful of managing risk exposure and employing appropriate risk management strategies.
Conclusion:
While the CHFJPY pair may be poised for upward momentum, traders should approach with caution. Keeping an eye on technical indicators, monitoring fundamental developments, and staying vigilant against potential retracements are essential for navigating the market effectively. By combining a bullish outlook with prudent risk management, traders can seek opportunities while mitigating potential downsides.
Feel free to adjust or expand on any part of this idea sharing as needed!
Will CHFJPY complete its monthly fifth legMonthly timeframe
- Bullish market structure
- Bullish M not completed yet
- Targeting the 172.000 region
Weekly timeframe
- Bullish market structure
- Shoulder 1 of the failed head and shoulders is now being used as support (failed first time break)
- Bullish fib got activated
- Bullish indicational candle
Daily timeframe
- Last daily low doesn't break
- Reversal indication + inverse head and shoulders + bullish M
- Supply and demand zone + institutional candle
- Limit time
CHF/JPY +100 Pips 0 Drawdown , New Entry After D Closure Now !This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
STILL POSSIBLE FOR FURTHER DOWNSIDE(CHFJPYThere's quite a lot to unpack on this pair but to keep it simple, im seeing major divergence on RSI daily time frame which is indicating to me that there is a reversal on the way. This does not mean that a reversal is imminent but an 'INDICATION OR SIGN' that it might happen, so im waiting for confirmations on smaller time frames to jump in the game. Im seeing impulses to the downside which is telling me theres not enough people interest in pushing chfjpy further at this moment in time.
Im seeing a correction taking place so this is whats interesting me to go short.
If you want to play it aggressive, then you could go short at where the sellers have left clues.
The balls in your hands folks
CHFJPY - trading session no.118.42pm - 9.10pm
learned many lessons today
-maybe I should just take 2 trades a day, I have a minor gambling addiction
-NO HESITATION PLSSSSSS
-stop. trading. after. your. gut. tells. you. to. or. after. you. took. enough. trades
PnL: +0 pips - couldve been a +2RR day tho
Ill take the weekend to reflect cause I NEED to lock in so bad - distractions while trading etc etc and many more mistakes. Although it couldve been a really good week with real muney Im still unhappy about how I trade. I hope I learn from my mistakes and adapt.
CHFJPY: Rising on the 1D MA200.CHFJPY is neutral on its 1D technical outlook (RSI = 50.785, MACD = -0.360, ADX = 31.970) as the price action is ranged between the 1D MA50 and 1D MA200. The dominant pattern is a Channel Up however and with the price rebounding on the 1D MA200 (unbroken since March 29 2023) and the 1D MACD has formed a Bullish Cross, we expect the new HH leg to start. Our target is the R1 level (TP = 171.500).
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CHFJPY - A Ranging Market.
- CHFJPY is currently moving in range.
- No clear trend is defined.
- Buy stop and Sell stop orders in place in case of breakout
DeGRAM | CHFJPY pullback to the channel boundaryThe strength of CHFJPY rebounds has decreased.
The chart came out of the descending channel.
The price reached the resistance level coinciding with the 38.2% retracement level.
We think that the pullback will take place after the resistance retest is completed.
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CHFLPY SHort Outlokklooks like potential bearish move comng up ...
if so we will consider exeuting a traing to downside for huge profits!
Simple chart analysis for CHFJPYDowntrend Elliot Wave finish. Still waiting for C of ABC to finish with an E.W, that, only takes the chart to reach 300% and higher to make the fifth peak.
News are on standby, so it should go according to plan.
CHFJPY is running in tight support and resistance in 1hourCHFJPY is running in tight support and resistance in 1hour
CHFJPY in Sideways RangeCHFJPY is currently trading sideways which makes the application of support and resistance strategy more suitable.
Buy CHFJPY Triangle BreakoutThe CHF/JPY pair on the M30 timeframe presents a potentially interesting situation with a triangle breakout pattern.
Potential Long Trade :
Entry: Above the broken resistance line of the triangle, ideally around 167.60 after confirmation.
Target Levels:
168.75: This represents the height of the triangle, measured from the apex (highest or lowest point) to the base (opposite trendline), projected upwards from the breakout point.
169.18: This is a further extension of the upside target, based on the height of the recent price movement.
Stop-Loss: Place a stop-loss order below the broken resistance line of the triangle, ideally around 167.45. This helps limit potential losses if the price fails to break out and reverses downwards.
Thank you.
How Do Central Bank Rate Decisions Push/Pull Forex Markets?Hey Traders,
In this video I will cover an in-depth study on how the decisions of Central Banks concerning interest rates dictate the velocity of any market move in Forex.
This is something you really need to know if you are trading any FX pair, especially the JPY or CHF.
The deviation between the central banks of the two is a growing deep and this is driving the new move, as it did the previous one.
Watch for more.
DeGRAM | CHFJPY rebounded from resistanceCHFJPY is moving in a descending channel between two trend lines.
The volatility of the price movement has decreased, which may signal an upcoming decline.
We think that the price may test the resistance again and then pullback to the 50% retracement level.
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CHFJPY READY TO DROP ?Time go short.
CHFJPY is currently consolidating on the higher time (4hr) so im looking to capitalise on the move to target 166.548.
First target 167.527
second target 167.228
third target 166.578
So lets see what happens guys
CHFJPY: back to major support?A price action below 167.75 supports a bearish trend direction.
Bearish confirmation for a break below 167.35.
The target price is set at 165.40 (the major support trendline).
The stop-loss is set at 169.85 (its 23.6% Fibonacci retracement level).
Crossing below its 200-day might support further downside potential.
CHF/JPY BEARS ARE STRONG HERE|SHORT
Hello,Friends!
The BB upper band is nearby so CHF-JPY is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 166.508.
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CHF/JPY- Support and resistance levels are crucial in range-bound markets.
- Support prevents prices from falling further, resistance stops prices from rising.
- Traders use technical indicators and chart patterns to identify these levels.
- Prices can break through support and resistance levels.
- Traders make decisions based on these levels alongside other factors like fundamentals and risk management.
CHFJPY APRIL 2024 WEEK 2 OUTLOOK -
Daily - looks good for shorts as long as price stays below 167.982. if price holds above 168.865, we switch bias to long.
Origin - not fully aligned with daily. right now price looks good for longs but considering daily, that move could be short lived. so I will look for fresh shorts only after price clears 167.471
a clear trajectory for CHFJPY BOJ dovishness has been somewhat being positive for most JPY pairs especially CHFJPY. As we can see on the chart, the market is hovering around weekly demand structure and from here, I believe we will keep on moving south in the forthcoming weeks.
Trade safe!
Carpe diem!
