The daily chart shows a new downward trend. Under 113.80 CHF/JPY is short.
FX:CHFJPY
Key support broken Bias - Short. Looking at 111 for possible tp area.
Across the board, xxx/jpy looks like it is going down, however this pair seems to have reach a key support. lets see if it could break the support
CHFJPY is currently breaking out of a very strong Bollinger Band squeeze. I have entered upon a bearish impulse. TP set at 249 pips near previous lows. SL set at 80 pips. I expect price to continue through resistance to previous lows as marked.
I am bullish base on trench analysis. As long as 112 zone holds, I am bullish Waiting for a retrace back to that zone to take a long trade.
CHFJPY 2618 trade, a little risky but the R/R worth it ! Keep an eye on the breakout
There are 2 areas where I would trade this. A retrace back to 104.750 or a short at 107 zone. Of course, It would be best if it retrace first then short it later. Key Resistance - 107 Key Support - 104.750
Good and well defined wedge, waiting on the breakdown, keep an close eye on it
CHFJPY looks set to continue along its bearish path with a major downtrend in play on the Weekly. We expect the local pennant to have atleast one more leg, before retesting the outer pennant (yellow) + the orange weekly downtrend and then continuing along whilst breaking lower. Enter a trade short with SL just above current trendline.