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Swiss Franc / Japanese Yen

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CHFJPY trade ideas

CHFJPY - False Channel Break Possibly?CHFJPY has broken off from channel. I believe this a false break of the channel and expect CHFJPY to come strong at the end of the year. There is no carry trade unwind in here and as Europe is in recession, CHF will remain bid. Only issue here can be if the Suisse Central Bank comes out selling CHF to buy other currencies to ensure that the currency does not become too strong. I do not buy into this narrative that Japan will suddenly get into this hiking cycle. There will be hikes maybe, one or two at max. Japanese Banks can't afford high interest rates.
Long
by Kemsdale
✨ CHFJPY: ITF CURVE ANALYSIS (3D) ✨(DOWNTREND) -SL @ 170.70 🚫 SSO1 @ 169.00 ⏳ SSO2 @ 165.75 ⏳ TP1 @ 159.50 TP2 @ 154.15 TP3 @ 150.15 TP4 @ 143.00 TP5 @ 140.00 SUPPORT @ 139.00 ADDITIONAL INFO: 🤔 If this Curve Analysis on the 3D chart holds, then we're going to be setup some major profit 📊 This is a VERY VOLATILE PAIR. Position Size should be no greater than 3% of your NAV ⚠️ For those who don't mind a little risk, you can place a MO-Short 🔑 BLO = BUY LIMIT ORDER ITF = INTERMEDIATE TIME FRAME NAV = NET ASSET VALUE SSO = SELL STOP ORDER TP = TAKE PROFIT This is an Intermediate Time Frame trade (4 hours to 6 day): — Offers a clearer picture of the underlying trend compared to short-term frames. — Provides more opportunities for confirmation signals and technical analysis. — Allows for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders.
Short
by ProfessorCEWard