CHF/JPY: Potential Setup for Short Opportunity The CHF/JPY pair has undergone a substantial correction after peaking at 177.20, pulling back by 300 pips and breaking through the Fibonacci extension level around 174.30, where it closed yesterday.
As shown in the chart above, this decline carried significant momentum, with a swift downward push halted only by the close of the trading session. Technically, the break of this key support at the Fibonacci level signals a potential continuation toward the next support area at 172.7, offering a promising 150-pip range for traders.
This setup could be one to watch as markets open, with potential for short positions on further bearish movement.
JPYCHF trade ideas
CHF/JPY H8 AnalysisPrice has now broken out of the bullish parallel channel seen formed over September and November this year.
With 6 (bearish close) eight hour candles at the end of last week, we may see a pullback in the new trading week and then possibly a sell setup depending on price action and your strategy rules.
CHFJPY - 4hrs ( Sell Trade Target Range 300 PIP ) 🟢 Pair Name :CHF/JPY
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
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🟢 Key Technical / Direction ( Short )
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Bearish Break
175.200 Area
Reasons
- Major Turn level
- Visible Range lnv
- Pattern Break
- Fibo Golden
- Choch Zone
Bullish Reversal
172.500 Area
Reasons
- Major Turn level
- Visible Range Lvn
- Choch Zone
- Fixed Hvn
- P M H + P Y H
CHFJPY Wave Analysis 8 November 2024
- CHFJPY broke daily up channel
- Likely to fall to support level 174.00
CHFJPY currency pair under bearish pressure after the earlier breakout of the support trendline of the sharp daily up channel from the end of September.
The breakout of this up channel accelerated the active minor corrective wave 2, which started earlier from the key resistance 177.00, which has been reversing the pair from July.
Given the strongly bullish Yen sentiment seen across the currency markets today, CHFJPY currency pair can be expected to fall to the next support level 174.00 (target price for the completion of the active wave 2).
CHFJPY: Bearish Breakout VerifiedA bearish reversal has emerged on the CHFJPY chart.
After a period of consolidation, a notable double-top pattern formed on the 4-hour chart.
The neckline of this pattern was breached yesterday, confirming a breakout of the support range, which the market is now retesting.
The pair is expected to continue its decline toward the 174.02 support level.
CHFJPY: Confirmed Bearish BreakoutA bearish reversal has been identified on the CHFJPY chart.
Following a period of consolidation, a significant double top pattern was formed on the 4-hour chart.
The neckline of this pattern was violated yesterday, and there is now a confirmed breakout of the support range being retested by the market.
It is likely that the pair will continue to decline towards the 174.02 support level.
CHFJPY Expected Growth! BUY!
My dear subscribers,
CHFJPY looks like it will make a good move, and here are the details:
The market is trading on 175.64 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 175.99
About Used Indicators:
The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
CHFJPY May Bounce Again from the Support ZoneCHFJPY May Bounce Again from the Support Zone
CHFJPY has been developing a large corrective pattern for about a month. A strong support zone is visible on the lower part of this pattern. CHFJPY is approaching this support zone again, which may push the price up further, as shown on the chart. This is the fourth time that CHFJPY is testing this zone, adding more credibility to its strength.
Very strong zones are noted near 176.10 and 176.50.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
CHF/JPY BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are going short on the CHF/JPY with the target of 175.208 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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CHFJPY View!!That leaves Japan's JPY in an uncertain state says Juckes. A Trump win and clean sweep could see USD/JPY head back towards its highs above 160.00. But given the dire mood in the Treasury market, a Harris win without a clean sweep would give the JPY a lift with potential for USD/JPY to head back to subsequent lows by 140.00. That's a much wider range than the outcome would be in European currencies, for example.
CHFJPY is continuing its bullish trendrespecting the trendline and making clear HH and HL and respecting fib level making bullish trend strong although there is a bearish divergence but it looks like it brought the price down to only fib level as we can see the price touched slightly below .382 fib level marked HL and then moved upwards
CHFJPY Will Go Higher! Buy!
Take a look at our analysis for CHFJPY.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 175.805.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 176.531 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
CHFJPYIf the analysis aligns with the market's actual direction, and the currency pair moves in the anticipated direction (up for a buy trade or down for a sell trade), the trade will likely yield a profit. The magnitude of the profit will depend on the size of the price movement, position size, and leverage used.
CHF-JPY Will Go UP! Buy!
Hello,Traders!
CHF-JPY is trading in an
Uptrend and the pair is
Making a bullish rebound
From the horizontal support
Of 175.500 so we are bullish
Biased and we will be expecting
A further move up
Buy!
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