The CHFJPY has been trending very nicely since the end of January when price found resistance at the high of July 2017 just short of 119.00. Price has since fallen circa 800 pips taking price out of an area of consolidation.
I have drawn in the support zone that was acting as the base of the consolidation. In March, we have seen a classic break and retest of...
I CAN SEE A SELL OPTION HERE. JPY IS STRONG AGAINST ALL PAIRS. THE BLUE LINES REPRESENT STOP LOSS AND TAKE PROFITS. DOES ANYONE AGREE? I HAVE NOT USED ANYTHING FANCY FOR MY CONCLUSIONS HERE I MERELY USED AN OVERVIEW OF ALL MARKETS AND THE FACT THAT IT IS A DOWN TREND AND IT HAD BROKEN SUPPORT. DOES ANYONE AGREE?
Price broke its CTL to the downside & back below the zone I was watching for a validation of a possible inverse H&S pattern which did not hold, so I will be watching this pair for potential shorts back to the recent low.
Hello traders.
CHFJPY down move is completed in my opinion and we got reversal impulse, which broke the blue trendline. Now, it looks like a correction is in the making. Putting an entry order above previous top with stoploss below last bottom is my trade idea. If it makes a bigger correction something like I draw, I will take breakout trade. My target is 123.
CHART TIMEFRAME: H1
CHART PATTERNS: Support Breakout and Bullish Crab Formation
EXPLANATION: CHFJPY is testing 112.000 support. If it breaks below 112.000, Bullish Crab Harmonic Pattern would be completed at D 111.480. We may see a retracement at the D Leg.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
The Swiss Franc has been constrained by a descending channel against the Japanese Yen after hitting the upper boundary of a junior channel on February 2.
The currency exchange rate has been stranded between pivot points and SMAs. The weekly R1 and the 100– hour simple moving average was restricting the rate from making any upward move while the weekly PP combined...
The pair's rebound from 111.461, which represents a strong buy zone last week after a sell-off over the last few weeks, gives the pair a high likelihood of rebounding higher targeting the levels at 113.495 over the short term, 114.412 and 115.414 during the range Further, Stochastic supports the pair's uptrend to oversold, as well as a clearer sell-off through the RSI.
CHFJPY is breaking out of a daily uptrend - This is a bearish sign.
Notice that even if CHFJPY will try to climb, it has some serious resistance from above.
Nearest support zones are marked in the chart
Swiss private investors are underinvested in foreign assets as they have refrained from foreign portfolio investment since 2016 and pension funds hold high FX hedge ratios on their bond and equity portfolios. If CHF is no longer strengthening, the incentive to roll on their hedges is lower, suggesting less CHF buying. As Eurozone breakup risks remain low and the...
Hello traders.
As you can see I have an entry order above previous top and I'm expecting a very big up impulse (look at the chart below). After up impulse, it create very nice looking corrective structure and down move broke the previous bottom, so we have completed regular flat now. That's why I start to look at reversal.
This is the forex quote for the Swiss Franc - Japanese Yen cross pair. Both of these currencies are often viewed as safe-haven currencies and funding currencies due to their unique financial properties and low interest rates. CHF/JPY reached its lows during the 2008 financial crisis, when it hit ¥74.65. Since then, the pair has traded higher far beyond this level...
Here, I would like to share the pattern I found in JPY. If these patterns come ture, JPY won't be so strong in the few weeks.
EUR/JPY a cypher pattern: B is 38.25 retracement of XA and C is 1.272 times of AB, which is fit for cypher pattern. Also the price jumps after touched 78.6% XA---129.466. the pattern is formed
GBP/JPY forms a shark pattern. B is...
