JPYCHF trade ideas
chf jpy breakout structureharga semasa berjaya memecahkan structure dan berjaya membuat LL yg baru... harga berkemungkinan membuat retracement sebelum meneruskan penurunan dan memcari level support yang baru
CHFJPYThis is CHFJPY chart.This price going to down because of strong resistance formed.so plz wait and see.
CHFJPY is an attractive SELLThis pair is trading in a clearly defined bearish channel, and the current price is close to the resistance trendline.
One warning sign in contrast to the overall bearish picture is perhaps today's (Thursday) rather bullish candle. However, since the price is still below resistance, the downtrend remains intact and additional bearish signals that appear here would be valid opportunities to enter short.
Also, be mindful of the CHFJPY usual price behavior of gradual trends with many retracements. That is, this pair often forms candles with large wicks on both ends even during trends. So, just because a bullish candle has appeared within a downtrend doesn't necessarily mean that the bulls are gaining control of the trend. Without a clear bullish breakout, the downtrend remains valid.
It's possible that CHFJPY could even pierce this trendline on an intraday basis (above 109.00). But, without a daily or rather even a weekly close above it, the trendline resistance will not be broken. Hence, such situations of the price moving above 109.00 could actually provide excellent selling opportunities.
Instances of higher volatility could occur on CHFJPY any US-China trade news or news related to Brexit and EU politics/economics. However, the overall theme that the JPY has more room to strengthen than CHF remains in place.
Inverted H&S, second shoulder still under creationThe price movement of the pair is forming an inverted head and shoulder pattern with the second shoulder in the midst of formation. We can enter a buy position from the current level with stop loss at the crest of the shoulder at 107.868 till the first target at 109.493 which is also the neckline. After the prices breach the neckline, TP 2 and Tp 3 will activate. As you can see the movement of the price can take two approaches. The first one is the price consistently moves above to Tp3 like the blue arrows show. Or the price can take the second route, where the price witness pullback after Tp2 is hit before it targets Tp3 as shown by the orange arrow.
Don't miss the sell opportunity in CHFJPYFalling wedge pattern in CHFJPY; there is a possibility of testing the lower trend line. Traders are suggested to go short at current price with the target of 107.24.
Stop Loss: 110.28
A completion of sell target can bring a reversal and open up the opportunity of buy position as shown in the chart.
Don't miss the great buy opportunity in CHFJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (107.87). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CHFJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 41.
Take Profits:
TP1= @ 108.55
TP2= @ 109.10
TP3= @ 109.75
SL= @ 107.50
CHF/JPY Technical analysisThe recent downswing in the counter has pushed the prices into a strong demand zone.
Previously when the price entered these zones, it changed the status quo in the counter.
Hence, we expect the pair to take support here and move to the supply zone.
CHF/JPY Technical analysisAfter making a false breakout at the trendline, the pair rose steeply.
Now, it is at a strong supply zone, owing to which price has reversed in the near-term.
Also, the RSI indicator is perched at the 70 level mark.
Hence, a profit booking rally is imminent in the counter if at all a trend reversal.
The next support zones are the price action support at 111.399 and the ascending trendline. Traders can expect a swift rally to any of these zones.
CHF/JPY Technical analysisThe zone of 111.947-112.126 provides a hard resistance to the pair.
Also, the pair has formed an ascending triangle pattern, which means that there is one leg of down move due in the counter.
Hence we expect the pair to move to the supportive trendline for now.
CHF/JPY Technical analysisThe falling prices have found support at the long term trendline in the 4-hour chart.
To confluence the support, a bullish pinbar has also formed indicating the resurge in bullish bias.
Hence, we expect the pair to move to resistive trendline for now.
