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Chfjpyanalysis

CHFJPY | Perspective for the new week | Follow-upWith 200 pips in our favour since my last publication, it appears we are close to another trading opportunity should the pattern transpose into expectations. What appears to be a temporary Breakout of Y118.000 on the 15th Feb 2021 reveals that there is a strong presence to buying pressure around this area and could be a level to focus on in the nearest future for buying possibilities but before this happens, find below my expectations; Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. The strong engulfing Bearish candle in the last couple of days after the breakout of Y118.000 is a sign that we might be experiencing "quick sells" - a correction wave in anticipation of a rally in the coming week(s). ii. Since the beginning of the year buyers have done a great deal to keep price above Key level hereby confirming to us how powerful their presence is at this juncture in the market. ii. In this regard, I have found two levels (Buy window I & II) to look out for buying options in the coming week(s). iii. The Bullish Trendline on the weekly chart shall be a yardstick to maintain the Bullish bias as a Breakdown/retest of this line shall render this bias invalid. iv. Now, if price decides not to reach any of the Buy windows, a close above Y118.000 could be a good opportunity to join the rally... Trade consciously :) Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:3.5 Potential Duration: 15 to 25 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, 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.
Long
by darcsherry
2
CHFJPY Still BULLISH...Possible Rejection From Here!!!We managed to see a nice 261.8 fib level rejection followed by a BEARISH movement back to 161.8% fib level. Also, price level is currently near my moving averages which I expect a possible rejection here. Looking at the chart, we can see great BULLISH pressure holding CHFJPY for now. It have yet to breakout of the BULLISH climb momentum. Having said that, I expect movement to minimally test the 261.8% level once again with a potential breakout bringing price to the next fib level. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Long
by YGForex
4
CHF/JPY Long From SupportBig correction seen on JPY pairs today. This is back into a support level now, need to see it hold up here and there should be a very good long opportunity. Can use the 4HR and 1HR timeframes to pinpoint the best entry point, it has shown no sign of turning higher or slowing down yet but it should do soon. MACD is well above 0 so still bullish and EMA's have not crossed for short yet and we want to see it stay that way for a long entry. Target can be set at 119.917 although there will be some resistance around 119.000 so could exit the trade there to secure the profit.
Long
by olly48
CHF/JPY AnalysisWelcome back! Please support this idea with a LIKE if you find it useful. *** CHF/JPY - Play the recorded analysis and comment below with your thoughts or questions! Thanks for growing the community! :) We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian Kenya Horton, BK Forex Academy
by BKTradingAcademy
CHFJPY Will the 5 year old history repeat itself? 15Feb, 2021The region around 117.660 has been a line in the sand for the last +5 years. Every time price gets to this region, it promptly reverses course. Sometimes, it does break though for a short distance (creating a false break) but very impulsively, it falls right back. Let’s take a look at the recent price action on the daily chart. You can see 12 attempts to break through in the last 6 weeks. The PA on Fri 12 Feb indicates yet another clear rejection of the bulls' attempt to take price higher. Nothing in trading is a 100%, it is all about playing the probabilities and making sure that the risk in a trade is justified by the profit potential. Even with an ultra-conservative target, there is +3R available. If this works out, I can see a much lower target with an extremely attractive profit potential. If you like my analysis please give it a “thumbs up” and follow me to get immediate notifications. As always, please use sound money and risk management in all your trades.
Short
by Trading_Vista
CHF/JPY could RISE!Hey tradomaniacs, CHF/JPY with the second attempt to break above the key-resistance-zone 👉 It looks like this is a valid breakout with a continuation very soon! Comparing both moves above the resistance you can see that the price has found demand and flipped the previous upper trendline into a support. Volume, volatility and momentum has been very bullish so far as. 1️⃣ Volatility Has been low with the breakout compared to the false breakout in the past. A high ATR-Value and so volatility is often a sign of stop-loss-fishing. 2️⃣ Volume In scenario one the volume was not chasing the price to the upside showing refusal of higher prices. Additionally, open interest was very weak at the breakout-zone. Now we can clearly see that the market accepts higher prices and follows the current momentum. I`m watching this pair and look for a long-entry as soon as price breaks the above the previous highs as a potential double-top is still possible. LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me!
Long
by Trading2ez
6
CHF/JPY Looking To Breakout Above Big Monthly ResistanceThis is at a big monthly resistance level, it has rejected this level a number of times but I think it is likely to breakout above this soon as the price has been more stable than its previous attempts which were big spikes to this price. Price action is currently bullish as seen on MACD and EMA's, I want to see the breakout confirmed and then the support created before entering a long. After this a target of 121.950 can be set with SL below the support.
Long
by olly48