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Chfjpyforecast

Hope u took the short, CHFJPYThe swiss yen broke down farther after breaking the channel and testing the bottom of the channel, we expect to see more downside this week. But the white line(200ma) serves as a strong support. If you're in a short take some profits at around there and re-enter again at a better price. BEAR CASE Price to go farther down to ~122.9, there we can see some support. Our ultimate target is ~122 BULL CASE We expect price to test at least 122.9 but the support can be stronger than expected, do not be surprised if we bounce to 125 from there before another big leg down.
Short
by IkanBilisCapital
CHFJPY all za way downWhat's up guys , Price approaches a resistance zone and I'm looking for major sell setups , it will be a classic entry immediately after the break of the last low and the neckline of the potential Heads and shoulders , Why I said potential is because it hasn't formed yet and I am looking forward to see it happen so it could suite my trading style and give me an edge I can spot a divergence but don't wanna add it , so that my chart won't get too complex cause we have to keep it simple during trading Waiting for market to show its hand Also a cross of the MA can be used as a confluence ,those who are familiar with the ichimoku cloud could also use that what do you guys feel ?
Short
by newschooltrader
2
Bearish signal on the weekly but big move may come lateThe weekly candle on the swiss yen gave us a potential bearish signal. We expect price to continue to consolidate to the upside before giving us a big drop to the downside. BULL CASE Price moves to the top of the channel before dropping down farther. The price we're looking at is 126 but it may breakdown midway due to the uncertain nature in this zone. BEAR CASE This is unlikely but price may just collapse from here. If it does break structure our price target is 122. Remember not to fomo in and control your risk if it happens.
Long
by IkanBilisCapital
128 before stronger correctionWe're wrong about this pair this week, the strong bullish conviction shown at the 123.5 level is information that we cannot ignore, there should be more upside coming for this pair but we think price action will be choppy. BULL CASE The structure should be complete once price corrects to near the 124.0 levels and after that we are targeting 128 where a stronger resistance will be met. BEAR CASE Do not be surprised if we get a stronger correction before the upside comes, it is possible but unlikely that price retest 123 before the bull case is fulfilled.
Long
by IkanBilisCapital
CHFJPY | Perspective for the new week | Follow-up detailsFollowing a 100pips move in our direction since my last publication on this pair (see link below for reference purposes), I see a short term opportunity as the current structure in the market insinuates that a temporary decline in price is imminent after observing a significant Breakdown of JY119.500 in the course of the last week trading session. b]Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Breakdown) Observation: i. If we go as far back as August 2021, we will observe multiple rejections of the JY120.5000/120.000 zone; a feat that suggests a strong zone for the demand of Japanese Yen. ii. The visual representation of a line drawn under pivot lows in the last couple of weeks reveals the prevailing direction of price action which culminated at a peak of JY120.210 before the downward spiral. iii. The sudden Breakdown of this Bullish trendline during last week trading session reveals that buyers lost momentum. iii. However, It is worthy to note here that we are still within a good demand zone (JY119.000/119.200) for the Swiss Franc. iv. Following the Breakdown of the Key level @JY119.500, the retest of the Key level on Friday signals a change of baton as I anticipate a takeover from the sellers in the coming week. v. In this regard, below Key level remains a comfortable zone to sell the Swiss Franc with an opportunity to add to our existing position if the Demand zone no longer holds the selling pressure. vi. In the meantime, the Bearish bias on this pair remains temporary... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 100 pips. Risk/Reward : 1:3 Potential Duration: 1 to 4days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry