CHFJPY trade ideas
CHF/JPY BEARS ARE STRONG HERE|SHORT
Hello,Friends!
Previous week’s green candle means that for us the CHF/JPY pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 170.641.
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CHFJPY Will Move Lower! Short!
Here is our detailed technical review for CHFJPY.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 171.110.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 169.734 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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CHF/JPY Long Price was ranging in a triangle wedge, price broke out now at the test line. Still long on this pair. Price target around the 172-175 range.
Yemi_Fx1 | Bearish Bias on CHFJPY Price has been in correction phase on chfpy for more than a week currently it's tested the upper trendline making it a third touch. The upper trend line that serves as a resistance zone is validated on 1 hour time frame by a close of a bearish candlestick. I will be waiting for formation of a bearish continuation pattern on 15Min/5Min to provide me an opportunity to take a trade.
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CHFJPY 1H Possible Double bottom in an up trend channelOn this 1H chart for CHFJPY we can notice that the price has been moving in an up trend channel for a while now. Recently it dropped to test the up trend support. At this stage the price is forming a potential double bottom. Monitor it for a potential breakout.
Additional confluences:
- MACD can produce a bullish cross if the price starts going up to complete the Double bottom
- The 2 bottoms are re-bouncing from the 200 EMA
- If the price goes up, in can cross above the 20 and 50 EMAs. Monitor for a bullish cross
✅CHF_JPY WILL KEEP GROWING|LONG🚀
✅CHF_JPY is consolidating in
A parallel range pattern
While trading in an uptrend
So IF the bullish breakout happens
Then we will see further growth
LONG🚀
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CHFJPY - Accumulation phase ✅Hello traders!
‼️ This is my perspective on CHFJPY.
Technical analysis: Here we are in an accumulation phase now, so I expect we could see AMD pattern, price firstly to manipulate sell side liquidity and then to reject from bullish order block for distribution higher.
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#CHFJPY@zoddytrading
#CHFJPY
Price did exactly as we expected last week, expecting price to push down again to touch the bullish order block and keep moving up
SLOWLY BUT SURELY
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Lingrid | CHFJPY range BREAKOUT. LongThe price perfectly fulfills my last idea.The price broke above the range zone. The market updated swing highs and fix above the 171.000 level. I think that If the the price may rise from the support and upwards trendline. I am waiting for the price to pullback toward top of the range zone then move higher. My goal is resistance at 171.740
Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩💻
chfjpy may be start bearish movedefinitely correct prediction is too hard but it seems 171.500 resistant can take a break of long time bullish movement of chfjpy. I guess next target is 168.235
SELL CHFJPY 💲💀💲 №294FX:CHFJPY
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CHFJPY short movePrice cloud retrace towards our bearish order block and potentially reverse from here; we could see momentum pushing price downward towards our 1st support level. If price breaks above the bearish order block it could hit the 1st resistance at 170.404.
CHFJPYCHFJPY price is in the 171.29 important resistance zone. If the price cannot break through the 171.29 level, it is expected that there is a chance that the price will reverse to the downside. Consider selling in the red zone.
>>GooD Luck 😊
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CHFJPY Short SetupThis is my Setup to Short CHFJPY. Market has broken the structure to downside and moved in consolidation to create a pool of liquidity, Market needs to fill the an Unmitigated OB in order to continue its downward trend.
