ChfJpy Longterm - SELL
The SNB was one of the first to start the rate-cutting process. Japan, on the other hand, has entered a rate-hiking phase, contrary to other developed central banks.
This contrasting approach is helping the Japanese Yen, which has experienced a historic depreciation, to recover.
When we look at the long-term main uptrend, we see that the trend price movement aligns with Fibonacci retracement levels. This technically signals the completion of the main uptrend.
Our initial target is to see a drop towards the 23.6% Fibonacci level. If this level breaks, we expect a further decline towards the 38.2% level.
Since this analysis is based on a weekly chart, these levels are long-term targets, and there will be several intermediate pivot levels and corrective moves along the way.
If you missed the previous peak, the current price offers a second chance to sell. You can follow our analysis for intermediate levels, new position additions, and profit-taking opportunities. We will be sharing updates on lower time frame levels.
This contrasting approach is helping the Japanese Yen, which has experienced a historic depreciation, to recover.
When we look at the long-term main uptrend, we see that the trend price movement aligns with Fibonacci retracement levels. This technically signals the completion of the main uptrend.
Our initial target is to see a drop towards the 23.6% Fibonacci level. If this level breaks, we expect a further decline towards the 38.2% level.
Since this analysis is based on a weekly chart, these levels are long-term targets, and there will be several intermediate pivot levels and corrective moves along the way.
If you missed the previous peak, the current price offers a second chance to sell. You can follow our analysis for intermediate levels, new position additions, and profit-taking opportunities. We will be sharing updates on lower time frame levels.
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.
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.