CHFJPY - TRADING NEAR REVERSAL ZONESymbol - CHFJPY
The CHFJPY pair continues to maintain its upward trajectory, supported by fundamental factors. The pair remains within a broad bullish trend, demonstrating strong resilience despite occasional corrective pullbacks.
The overall structure remains bullish but the pair is currently trading near local highs, which coincides with a potential reversal zone. After such an extended rally, there are high chances of a pullback or corrective phase before the next directional move. A short-term correction toward support could allow buyers to re-enter at more favorable levels. If the pair fails to gain momentum above the resistance zone 192.50 – 192.75, a retracement toward 191.20 – 190.50 could unfold.
Resistance levels: 192.50, 192.75
Support levels: 191.20, 190.50
A breakout and daily close above 192.80 may extend the bullish leg toward 193.50 - 194.00, while a confirmed rejection from the current resistance area could trigger a deeper pullback. Despite possible short-term weakness, the broader trend remains intact, supported by strong fundamentals and ongoing demand for safe-haven assets.
