Hey traders, here is the analysis for the CHFJPY. NOTE - Please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.
As previously shown on a post this pair is at a resistance and is now breaking above. For an entry we want to see a retrace back to support and then a rebound upwards. I have set an initial target of 119.004 and then this can be swing traded to the following targets of 119.917 and 121.950
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Wait for price to give us the direction of the next trend
- An Ascending triangle has been formed on a daily time Frame. - We Normally wait for either a break-out or reversal before placing a trade.
The region around 117.660 has been a line in the sand for the last +5 years. Every time price gets to this region, it promptly reverses course. Sometimes, it does break though for a short distance (creating a false break) but very impulsively, it falls right back. Let’s take a look at the recent price action on the daily chart. You can see 12 attempts to break...
Hey tradomaniacs, CHF/JPY with the second attempt to break above the key-resistance-zone 👉 It looks like this is a valid breakout with a continuation very soon! Comparing both moves above the resistance you can see that the price has found demand and flipped the previous upper trendline into a support. Volume, volatility and momentum has been very bullish...
This is at a big monthly resistance level, it has rejected this level a number of times but I think it is likely to breakout above this soon as the price has been more stable than its previous attempts which were big spikes to this price. Price action is currently bullish as seen on MACD and EMA's, I want to see the breakout confirmed and then the support created...
This has retraced to 0.5 Fibonacci, looking for this to now continue downwards to the support level. Need to wait for confirmation of this first as MACD and EMA's are on the bullish side, need to see MACD start dropping and EMA's to cross back over. TP is just below 0.382 Fib at 116.234.
I posted this earlier in the week but made an error on my chart and was targeting the wrong zone. Here, we can see price has now touched a good demand level, which meets all of my requirements for entry. We're now just waiting on price action to develop.
We longed this pair from 116.290 two weeks ago and we've now had a considerable pullback. We're looking for potential long opportunities from here.
Only looking for sells on this pair.
chfjpy supported buy sloping moving average looking for bulish. confident about bulish. Please consider to put a like to my idea for supporting me & subscribe for more ideas. Idea is not the financial advice!
CHFJPY, price rejection due to strong monthly Resistance above!
The Bullish run that begun mid-November 2020 gets caught and sandwiched in a Bullish rectangle pattern until it finally broke out of the range last week. This development hereby gives rise to a trading opportunity that we might exploit in the coming week(s). Tendency: Uptrend ( Bullish ) Structure: Channel (Bullish rectangle) | Breakout | Supply &...
Hey tradomaniacs, after a long consoliidation we finally see an attempt to break out of the consolidation and key-resistance in order to continue the trend. A daily candle-close will be very important for the market as a confirmation for a breakout. If we get a clean and nice rejection at the resistance we should give it a try and go long with a very awesome...
There have been some strong rallies with CHFJPY, although this is my first time dealing with this pair. Due to market analysis and confluence, this has the potential to be a good buy strategy.