CHFJPY - Is The BOJ Intervention Coming?
Analysis:
Bearish Confluences
Bullish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- Recent downwards trend formed
- Retesting an area of significance
- Downwards trendline touch
- Broadening descending channel formed
- 1K long position decrease for the CHF
- 6K short position increase for the CHF
- 1K long position increase for the JPY
- Recent CHF news has been bearish
Bullish Confluences
- The CHF is the 4th weakest major currency whereas the JPY is the weakest major currency
- 6K short position increase for the JPY
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
Our entry requirements have been met and our order has been filled. We are short looking to see the JPY strength as the possibility of the BOJ intervening increases.