The CHF/JPY pair on the M30 timeframe presents a potential shorting opportunity due to a recent downward breakout from a well-defined channel pattern.
Potential Short Trade :
Entry: Consider entering a short position (selling) below the broken support line of the channel after confirmation. Ideally, this would be around 169.90 or lower if the price continues to decline.
Thank you.
Comment
Safe-Haven JPY: The Japanese Yen (JPY) is often sought after as a safe-haven asset during times of uncertainty. Geopolitical tensions and a potential global economic slowdown could increase demand for JPY, weakening CHF/JPY.
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.