look both ways
Updated
on the MN chart (yearly overview) CHFJPY has been on a strong bullish run making small retracements on its way to the moon also making several market pauses(demand CPs)
price reached an ATH on '01 Jan 2015' @ 138.920, on '01 Jun 2022' after 7 years price pierced through the ATH with a strong bullish candlestick of +6.00% printing a new ATH @ 143.756 which is the current highest price CHFJPY has reached. from the current high July candlestick opened and closed bearish as a retest of the prev 2015 high.
from the prev 2015 high price is currently trading in a bullish parallel channel with prev daily chart supply level @ 141.320 peak in control now acting as demand , with price still in a state of bullish momentum its possible that this level of imbalance can drive price to the ATH @ 143.756 and also possibly reaching new ATHs
another scenario :
price is approaching a key level @ 142.000 which is a prev daily chart demand that could now act as supply and add bearish momentum to the price driving price down t bearish targets @ fresh and original demand level @ 139.250. a break of the parallel bullish channel could confluence the downside move.
TERMS USED :
ATH - All Time High
ALL PRICE LEVELS ARE AS PER FXCM PRICE FEED
put together by : PAKO PHUTIETSILE
presented by : PAKO PHUTIETSILE
courtesy of : currencynerd
“Education is the passport to the future, for tomorrow belongs to those who prepare for it today.” —Malcolm X.
price reached an ATH on '01 Jan 2015' @ 138.920, on '01 Jun 2022' after 7 years price pierced through the ATH with a strong bullish candlestick of +6.00% printing a new ATH @ 143.756 which is the current highest price CHFJPY has reached. from the current high July candlestick opened and closed bearish as a retest of the prev 2015 high.
from the prev 2015 high price is currently trading in a bullish parallel channel with prev daily chart supply level @ 141.320 peak in control now acting as demand , with price still in a state of bullish momentum its possible that this level of imbalance can drive price to the ATH @ 143.756 and also possibly reaching new ATHs
another scenario :
price is approaching a key level @ 142.000 which is a prev daily chart demand that could now act as supply and add bearish momentum to the price driving price down t bearish targets @ fresh and original demand level @ 139.250. a break of the parallel bullish channel could confluence the downside move.
TERMS USED :
ATH - All Time High
ALL PRICE LEVELS ARE AS PER FXCM PRICE FEED
put together by : PAKO PHUTIETSILE
presented by : PAKO PHUTIETSILE
courtesy of : currencynerd
“Education is the passport to the future, for tomorrow belongs to those who prepare for it today.” —Malcolm X.
Trade closed: target reached
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.