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Chfjp

USDJPY: continuation move🛠 Technical Analysis: On the 4-hour (H4) timeframe, USDJPY remains firmly in a long-term Ascending Channel, demonstrating a sustained bullish structure. A significant technical development has occurred: the price has successfully breached a "Broken resistance line" (the descending trendline from previous highs) and is now consolidating above the horizontal resistance zone at 157.271. The moving averages—SMA 50, 100, and 200—are all trending upward and acting as a dynamic support cluster below the current price. The current price action points to a potential breakout of resistance near 158, especially after the price consolidates near this zone. ——————————————— ❗️ Trade Parameters (BUY) ——————————————— ➡️ Entry Point: Buy after the breakout resistance (approx. 157.916) 🎯 Take Profit: 161.50 – 162.00 (Upper boundary of the Ascending Channel) 🔴 Stop Loss: Below the recent consolidation and SMA cluster (approx. 156.152) ⚠️ Disclaimer: This is a potential trade idea based on current analysis; market conditions and price direction are subject to change based on news factors and volatility.
Long
by Trade8Eight
Chf/Jpy Sell IdeaChf/Jpy is in a confirmed downtrend on the hour 4 time frame. Chf/Jpy recently made a pullback on the hour 4 time frame. We are looking for a sell here but we can not push the sell button right now because price may double top before falling. So what is the plan? I am going to wait for a sell signal on minute 15 , Or simply watch to see if price makes a double top on min 15 , and then im going to wait for the sell signal after the double top... then I will consider pushing the sell button. So correction on min 15 , then a fall.... Don't push sell yet... Let's wait. If you did decide to push sell , you would need a 80 pip stop loss or so if price decides to retest and create a reversal pattern.... So the plan is to wait for a sell signal on min 15 or wait for a double top and then a sell signal...
Short
by RlcTrading