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Swiss Franc / Japanese Yen

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CHFJPY trade ideas

Sell CHF/JPY Wedge BreakoutThe CHF/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 176.60, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 175.90 2nd Support – 175.30 Stop-Loss: To manage risk, place a stop-loss order above 177.30 This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
4
chfjpy is bullishThe CHF/JPY cross pair consists of the Swiss franc and the Japanese yen. Both currencies are used as safe-haven and funding currencies because of their unique characteristics and low interest rates. Factors affecting the CHF/JPY rate include general economic indicators, such as information on employment, inflation data, retail sales, industrial production, trade balance and the release of GDP data, as well as the central bank decisions regarding the interest rates in both countries. Political events, natural disasters and various government policies can impact the CHF/JPY exchange rate significantly.
Long
by MtICHI