CHFJPY trade ideas
CHF/JPY SENDS CLEAR BEARISH SIGNALS|SHORT
Hello,Friends!
CHF-JPY uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 169.201 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the CHF/JPY pair.
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CHF/JPY SENDS CLEAR BULLISH SIGNALS|LONG
Hello,Friends!
We are now examining the CHF/JPY pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 171.852 level.
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DeGRAM | CHFJPY breakout at reduced volatilityCHFJPY is moving above the ascending channel and trend lines.
Volatility has decreased.
The chart tentatively broke the channel and reached the resistance level.
We expect a pullback.
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YIELD DIFFERENTIALS IN CHFJPYSince Yields are the Fundamentals Drivers of Currencies, currently looking at the yield differential between CHF and JPY. You can see that the 2-year and 10-year yield differentials are already falling heavily in favor of JPY, so you could see aggressive pricing in the pair.
The risk that i see is jpy interest is lower than chf and the volatility is very low which is
good for carry trades, so when volatility picks up in the broader market than this pair could really move until then we need to be careful with this and watch what Bank of Japan does
with the interest rates.
For me, i would be selling on the rallies up into nice technical levels and manage risk.
CHFJPY: Bears Will Push Lower
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the CHFJPY pair price action which suggests a high likelihood of a coming move down.
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CHFJPY MAY 2024 WEEK 3 OUTLOOK -
Daily - bullish. looks clean to the upside. but, we have had 6 consecutive long days on this, so a day or two of trading in range will be good for a sustained move upwards.
Origin - as long as price holds above the zone **171.913 - 171.497**, we are bullish. if price breaks down, then I will look for buyers to step in around last week's AVWAP. price can just trade in range for a day and then shoot up from there.