CHFJPY Forming Bullish Setup

CHF/JPY is showing a strong bullish setup. The pair has broken above a key resistance zone around 192.00–194.00, which is now acting as support. Price has since consolidated above that level, suggesting that buyers are defending it and accumulation may be in progress. If the pair holds this base, there is potential for a further push toward 200.00+ in the medium term.

On the fundamentals front, the Swiss franc is seeing support because the Swiss National Bank has kept its stance cautious, while global risk sentiment is turning favorable again. In contrast, the Japanese yen remains under pressure as the Bank of Japan maintains a relatively loose policy, even after recent rate hikes. This divergence between SNB and BOJ policy is helping CHF strengthen against JPY.

Technically, the breakout above the highlighted support-turned-demand zone is very constructive. If price retests the zone and shows a strong bullish reaction (e.g., a rejection wick or a bullish engulfing candle), it could be an ideal entry point for long trades. A tight stop below the zone would give a defined risk, and the upside target could be toward psychological levels around 200.00, depending on momentum.

In summary, CHF/JPY is aligning both structurally and fundamentally for a potential continuation to the upside. The pair’s action around the 192–194 base, combined with macro tailwinds and favorable central bank dynamics, suggests this could be a high-probability long trade.