The Technicals are poised nicely for upside.
I haven't seen much news on it, but I suspect it has to do with CHF being a safe haven during turbulent times.
However, the fundamentals I can think are for causing upside for the CHF are the following:
🏦 Swiss Franc's Safe-Haven Appeal Strengthens
In times of global economic uncertainty, investors are gravitating towards the Swiss Franc due to its stability and low government debt, enhancing its strength against the Yen.
📉 Japanese Yen Weakens Amid Economic Concerns
The Bank of Japan's decision to maintain low interest rates and downgrade growth forecasts has led to a depreciation of the Yen, making CHF/JPY more attractive to traders.
Cup and Handle
Price>20 and 200
Target 186.04
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
I haven't seen much news on it, but I suspect it has to do with CHF being a safe haven during turbulent times.
However, the fundamentals I can think are for causing upside for the CHF are the following:
🏦 Swiss Franc's Safe-Haven Appeal Strengthens
In times of global economic uncertainty, investors are gravitating towards the Swiss Franc due to its stability and low government debt, enhancing its strength against the Yen.
📉 Japanese Yen Weakens Amid Economic Concerns
The Bank of Japan's decision to maintain low interest rates and downgrade growth forecasts has led to a depreciation of the Yen, making CHF/JPY more attractive to traders.
Cup and Handle
Price>20 and 200
Target 186.04
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.