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Chfjpysetup

CHFJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of CHFJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 05 Oct M > Market reached monthly resistance and after rejection started downward move. W > Price dropped to complete W formation and continued further till demand zone before reversal. D > We saw an M formation and price moved up to test the neck and complete formation. We now expect price to drop and test weekly demand zone. As per COT CHF saw closure of Long and addition of few Short positions reducing net positions. SXY was very weak for the said week. SXY was strong last week. JPY had closure of both Long and Short reducing net positions, this made JXY weak for the said week. Whereas JXY slightly recovered its position last week. 4H > Price is making HH, we will have to wait for price reversal for Short entry. Pair Correlation > CHFJPY has positive correlation with EURJPY and negative correlation with USDCHF. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Short
by AP17FX
3
CHFJPY - sell biasedHi all traders, For CHFJPY , we can see that it has broken the trend line, im looking for more sell biased this pair. Any buy will only happen if it break higher. But for now, i will only be sell biased for this pair till we see a momentum change. Follow me on tradingview. Like and share this trade idea with all your friends. Have a nice day! **Disclaimer: All trade ideas are of my own personal view. It's not a financial advice. Thanks!** Cheers everyone!
Short
by FxTradingWarrior
1
CHFJPY POSSIBLE SHORT**ENG** - Price is now reaching our 4H resistance level, we are expecting a drop from this area to the 38,2% FIB zone, RSI is also on the verge of crossing to the overbought side, wait for a candle confirmation before entering. **PT** - Preço está de momento a atingir a nossa zona de resistência nas 4H, estamos à espera de uma queda nesta zona, fazendo um pullback até à zona dos 38,2% do FIB, o RSI também está bastante próximo de níveis sobrecomprados, aguardar por vela de confirmação antes de entrar. Em caso de quebra, apenas entrar no retest.
by Wevesting