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Chfjpylong

Swiss franc looking for a base against Japanese yenThe CHF/JPY pair has done very little during the day on Monday which of course is that much of a surprise considering that the banks in Europe were closed. That being said we are approaching a rather significantly support level as far as psychological importance is concerned as the ¥110 level will of course would cause a bit of reaction. Beyond that, there is a lot of noise underneath that extends down to the ¥109 level, meaning that we should have a significant amount of support. At this point, it’s very likely that the buyers could return or a rather soon. That being said, there is a 50 day EMA turning lower just above, but it would make more sense for the market to reach towards the 200 day EMA, which is pictured above there at roughly ¥111.70 level. However, if we did break down below the ¥109 level, then the market could reach as low as ¥106 but that is not the base case scenario currently. This is an interesting pair to pay attention to because both of them are considered to be safety currencies, so the most important thing about this chart is to know where to put your money in the case of a flight to safety. For example, if riskier currency such as the Australian dollar selling off, you want to short the Aussie against whatever one of these currencies is gaining. So if we bounce from here, and we want to short something such as the Aussie dollar, then you want to short the AUD/CHF pair, as it should run further to the downside than the AUD/JPY pair. Obviously, the exact opposite can work so keep an eye on this chart, even if it doesn’t give you a trade by itself, can be quite profitable. Remember, Forex is all about relative strength. As things stand now, it would be very bullish if we can break above the ¥110.50 level, as we could reach towards the previously mentioned 200 day EMA.
Long
by Forex4you
CHFJPY approaching support, potential bounce! CHFJPY is approaching our first support at 110.33 (horizontal overlap support, 61.8% fiboancci extension, 78.6% fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 110.89 (61.8% fiboancci extension, 50% fibonacci retracement). Stochastic is approaching support as well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
CHFJPY long intraday trade setup 1HCHFJPY long intraday trade setup 1H based on green volume dominating higher time frames, trend to upside on HTF also. Currency impulse (bot left) favoring CHF strength with the crossover and price action positioned above the trend cloud 4H and 1H with strong green support under (dots). This is an intraday only as price is respecting the HTF resistance where Im expecting another pullback. TP at this point. IMPORTANT: Trading currencies carries a high element of risk where financial loss can be significant. This analysis is not to be construed as financial advice and we highly recommend using the information for 'practice trading' a demo account only where there is zero risk.
Long
by fxtraderanthony
WINNER WINNER CHICKEN DINNERIf you can find a level as strongly respected as this 1 you are onto winner winner chicken dinner. Purple arrows point out to you where price has respected this level on numerous occasions, previously it has respected this level as resistance, We can see price broke this resistance and shot up, Now we can only see upside movement with this pair but price might come back down and retest this level as support before pushing higher, or price might just push higher... Either way we are in this trade and will be laughing all the way to the yacht dealership :p So people say simple doesn't work in forex?? BULL#='T ( I will let you fill in the blanks ) Simple DOES work, infact simple is BETTER!!! The reason these so called FOREX GURUS make there charts look complicated and use fancy words is to make you think you cant learn it because it looks too hard I grew up on a rough council estate in England UK and didn't get any grades from school... now I'm earning 10x more than the teachers that said I would fail and end up in prison... work that 1 out!? So if I can master forex without 500 chart indicators and fancy words... Then so can you.
Long
by ForeverForex3
CHFJPY approaching support, potential bounce! CHFJPY is approaching our first support 110.43 (Horizontal overlap support, 23.6% fiboancci retracement, 100% fibonacci extension) and a strong bounce might occur pushing price up to our major resistance at 110.76 (76.4% Fibonacci retracement). Stochastic (21, 5, 3) is also approaching support and we might see a corresponding rise in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
CHF JPY WILL BREAK OLD RESISTANCE We can see from our support and resistance zones that price has been respecting these levels for a while and price is once again currently in our resistance zone, but this time we can see price breaking this resistance and moving higher to the upside because of recent bullish candles coming into this zone. If we take a look at the monthly chart you can see plenty of buying power due to last months candle having a really long lower shadow, this indicates that sellers weren't strong enough to push price lower and buyers took over, this is the reason combined with this months bullish candle we can see price breaking resistance level on the 4H chart. So we will be setting some orders around this level to catch it if price breaks, price might have a short pullback before breaking ( this is the reason for setting orders instead of buying at current market price ) Entry, SL and TP are reserved for our clients, if you would like to join our team then message us.
Long
by Apex_Gregg