CHFJPY Bear Time
Bias Bearish
Fundamental Analysis
CHF is more neutral position. JPY after correction, most likely their interest rate will hold and possible increase further if the world can slowly adapt to it.
Price Action:
Price rejected from H4 & Daily SR level. The rejection caused broken H1 SR level and H1 retracement bullish TL. Price closed below both H1 SR & Bullish TL. Price momentum still bearish.
Confluence:
Higher TF (W/D/H4) - Daily SR rejection
Lower TF (H1/M30/M15) - H1 SR level and H1 retracement bullish TL
Set up:
Short Entry at broken H1 SR level.
SL 2x ATR(20)
TP lower Daily SR level R:R 1:6
Fundamental Analysis
CHF is more neutral position. JPY after correction, most likely their interest rate will hold and possible increase further if the world can slowly adapt to it.
Price Action:
Price rejected from H4 & Daily SR level. The rejection caused broken H1 SR level and H1 retracement bullish TL. Price closed below both H1 SR & Bullish TL. Price momentum still bearish.
Confluence:
Higher TF (W/D/H4) - Daily SR rejection
Lower TF (H1/M30/M15) - H1 SR level and H1 retracement bullish TL
Set up:
Short Entry at broken H1 SR level.
SL 2x ATR(20)
TP lower Daily SR level R:R 1:6
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