CHFJPY / H1 / LONGCHFJPY may rise from the Bullish Order Block.
The CHFJPY pair has recently touched a significant bullish order block and is now showing signs of upward momentum.
Bullish Order Block:
174.140 and 173.928
Given that price is within the bullish order block, we can expect potential upward movement. I've analyzed this chart using Smart Money Concepts (SMC), a highly effective strategy for identifying high-probability trades based on price action. Now, it’s time to watch how the price reacts as it attempts to move higher from this zone.
Entry price :- 174.295
Take Profit :- 174.819
Stop Loss :- 173.772
CHFJPY trade ideas
CHFJPY H1Positivity dominated the trading of the Swiss Franc against the Japanese Yen pair. Accordingly, we look forward to buying from the 172.06 levels and place a stop at the closing of an hour below the 171.233 levels. We place the
first target: 173.650.
The second target: 174.60.
The third target: 176.78.
CHF/JPY BEARS ARE STRONG HERE|SHORT
Hello, Friends!
CHF/JPY pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 2H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 173.206 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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CHFJPY is in the Buying Direction testing major support levelHello Traders
In This Chart CHFJPY HOURLY Forex Forecast By FOREX PLANET
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CHFJPY is BearishPrice was in a strong uptrend, however it seems that bulls are exhausted and need a breather. Bears on the contrary smelled weakness and are trying to seize control of the price action, they have managed to break the previous higher low, and if the bearish pressure sustains we can expect further slide in price. Targets are mentioned on the chart.
CHFJPY FORECASTThis pair is looking promising due to price nature and structures. When we look from the higher time frame everything is looking good, however that is not only thing that will make us to enter this position. We better wait for the confirmation so that we reduce risk of the trade and the good thing is, the market always communicate before going.
CHFJPY: Technically topped. Short opportunity.CHFJPY is on bullish 1D technicals (RSI = 59.579, MACD = 1.000, ADX = 53.750) but for the past 2 days have deen declining. This suggests that the top is has been priced and a technical pullback is to follow. The 1D MACD is on the verge of a Bearish Cross. All previous uptrend corrections hit or came close ot the 0.618 Fib. Consequently, we turn bearish on the short term (TP = 170.000).
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CHFJPY Is Very Bullish! Buy!
Please, check our technical outlook for CHFJPY.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 172.971.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 173.863 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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CHF/JPY LONG FROM SUPPORT
Hello, Friends!
It makes sense for us to go long on CHF/JPY right now from the support line below with the target of 173.514 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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CHFJPY - Bearish TrendCHFJPY is making Ascending Triangle Pattern, will it breakout to reach target?
Entry, Stop Loss & Take Profit are mentioned.
CHF Fundamentals: SNB is reducing policy rates since March 2024, SNB rate cut as from 1.25% to 1% recently may result in weak CHF.
JPY Fundamentals: BOJ is increasing policy rates since March 2024, which is causing continuous strength in JPY.
Update idea