CHFJPY - Overall Structure is Still Uptrend
This chart shows a bullish ascending channel on CHF/JPY and suggests waiting for price to touch channel support on the 4‑hour timeframe, then looking for buy (long) trades in line with the uptrend.
Structure of the chart
Price is moving inside an upward sloping channel, with higher highs and higher lows indicating a bullish market structure.
The two parallel lines mark dynamic support (bottom) and resistance (top) where price has repeatedly bounced.
Overall 4‑hour trend is identified as upward.In an uptrend, the bias is to buy pullbacks rather than sell rallies, because continuation to the upside is more probable while the channel holds.
CHFJPY Under Pressure! SELL!
My dear friends,
Please, find my technical outlook for CHFJPY below:
The price is coiling around a solid key level - 201.68
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 200.59
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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WISH YOU ALL LUCK