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Chjpy

CHJPY is rallying, may not be for too longThe CHJPY managed to make a higher high but on the chart we can see that the market is forming the bearish pattern ascending broadening wedge at key levels. The upper side of the broadening wedge falls into a 1.382 Schiff pitchfork level from a long-term uptrend line. If the market is to push lower, I am expecting a reversal from around the outlined zone. P.S - The wedge is taken from the Weekly timeframe on a line chart so I can remove the noise and that's why on the daily the rays may seem off.
by RealFXBeast
CHFJPY 2022 Big move to be expected We can clearly see that we do have a higher high with divergence on the daily with an incomplete structure since the rally from 117 levels. Fundamentally we can expect the Yen to gain some strength due to the new covid variant being heavily mentioned in the news. Many other related instruments are currently trading at extreme areas so a big move is to be expected from now into the new year. This pair can revisit the 120 levels using the fibonacci extension from previous high. This is only for educational purposes only.
Short
by g2rafael
1
CHF/JPY - double breakout to the upside - exceptionally bullishCHF/JPY looks like it could be providing a decent opportunity to enter long based on the current technical analysis and price action. Price broke out from a weekly descending trend channel in Late-July suggesting that the downwards trend is coming to an end, at least in the short term. With our overall bullish bias, price has also now broken from a daily ascending trend channel to the upside. We have waited for a pullback and retest of the daily ascending trend zone before taking a long position, with an initial TP1 of 117.56. If price closes back below the trend zone we will look to close the position.
Long
by TheForexFellows
CHFJPY Short At ResistanceCHFJPY had a fake breakout of the resistance zone and is now back below the resistance zone, presenting an opportunity to go short on the pair. However, bears should be aware of the supportive trendline that CHFJPY is following along. The safest approach to this short would be to wait for a break of the supportive trendline to go short, with a stop loss a few pips above the high of the fake breakout. An impulsive break of the resistance zone beyond the previous high makes this trade invalid and we will need to reanalyse the pair. Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below. Best of luck traders!
Short
by sharaafatm