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Chfjpylong

Potential bullish breakout on CHF/JPYThe yen began to correct against its sustained weakness in September, when the MOF (Ministry of Finance) intervened in the currency markets to strengthen the yen. That helped CHF/JPY spent the next three or so months pull back from its highs and retrace against its bullish trend. However, the end of the correction may have been seen around 137, as momentum turned higher at a Fibonacci cluster which includes a long-term 38.2% retracement and 161.8% projection level. Since then, prices have moved higher, built a level of support just above 140 and closed above the 200-day EMA. We also note that Friday’s low respected the 200-day EMA as support. So we’re now on guard for a potential bullish breakout above 143.60, which would also clear the 100-day EMA. A strong inflation report and further hawkish commentary from the SNB could help with such a scenario (as would confirmation of a dovish BOJ governor to replace Kuroda). A break below 140 invalidates the bullish bias.
Long
by CityIndex
CHFJPY H4: Bearish outlook seen, further downside below 142.20On the H4 time frame, prices are showing bearish market structure with lower lows and lower highs being formed. A pullback to the resistance zone at 142.20, in line with the graphical resistance zone and Fibonacci confluence levels could present an opportunity to play the drop to the support zone at 137.50. Prices are holding below a descending channel as well and stochastic is facing bearish pressure from its resistance and an exit of the overbought region could signal more downside in prices.
Short
by T3-Consultancy
CHFJPY long 6hHello, my dear friends and fellow traders. What we are going to look at today is the CHF/JPY currency pair. Well, this stock has a bearish trend in the higher time frame, and it is currently trading in a sharp decline. But it has reached a support level in the sharp decline and is unable to break it. So, the price of this pair is showing a slight uptick. At this situation it is a good idea to take a long position in this space and expect a profit ratio of 1:3. Currently the buyers are more likely to jump into this currency pair. It is wise to follow your risk management before taking entry. I love to share my ideas. Feel free to revise the text and provide feedback. It makes it so personal and improve us in better ways. Thanks & regards, Alpha Trading Station FOREXCOM:CHFJPY Disclaimer: This view is for educational purpose only & any stock mentioned here should not be taken as a trading/investing advice. We may or may not have position in the stocks mentioned here. Please consult your financial advisor before investing. Because Price is the "King of Market".
Long
by AlphaTradingStation