CHFJPY: Uptrend Faces Risks - Short Opportunity on the Horizon

OANDA:CHFJPY   Swiss Franc / Japanese Yen
πŸ“ˆ Overview:
CHFJPY's uptrend encounters challenges with a flat top, bearish RSI divergence, and a bearish market sentiment above 90%. The neckline break signals a potential shift.

πŸ“Š Technical Analysis:
Flat top, RSI divergence, and neckline break indicate a possible reversal in CHFJPY's upward momentum.

πŸ“‰ Trade Strategy:
Traders may consider a short position near the 0.236 Fibonacci level, aligning with the technical signals and bearish sentiment.

πŸ›‘ Risk Management:
Implementing stop-loss orders is crucial to manage risks during potential market reversals.

πŸ“‰ Conclusion:
CHFJPY presents a short opportunity as technical signals and market sentiment point towards a potential downturn. Exercise caution and employ risk management strategies.
Trade active
Trade closed: stop reached:
Unfortunately Stop Loss Hit, Market doesn’t play as per analysis.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.