CHF/JPY: Potential Setup for Short Opportunity
The CHF/JPY pair has undergone a substantial correction after peaking at 177.20, pulling back by 300 pips and breaking through the Fibonacci extension level around 174.30, where it closed yesterday.
As shown in the chart above, this decline carried significant momentum, with a swift downward push halted only by the close of the trading session. Technically, the break of this key support at the Fibonacci level signals a potential continuation toward the next support area at 172.7, offering a promising 150-pip range for traders.
This setup could be one to watch as markets open, with potential for short positions on further bearish movement.
As shown in the chart above, this decline carried significant momentum, with a swift downward push halted only by the close of the trading session. Technically, the break of this key support at the Fibonacci level signals a potential continuation toward the next support area at 172.7, offering a promising 150-pip range for traders.
This setup could be one to watch as markets open, with potential for short positions on further bearish movement.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
📈 6 years in the financial markets! Join my Telegram for exclusive insights.
Telegram Link: t.me/charts_M7M
Telegram Link: t.me/charts_M7M
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.