CHFJPY | MT Short H4 | The Battle of 2 Safe Havens
已更新
Pair: 
CHFJPY
Timeframe: H4 - Medium Term (MT)
Direction: Short
Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames
- Price action may face some resistance from a previous support line
- Price has retraced to 61.8% Fib Retracement Level
- Aiming for the lower Support trendline from the mid of 2023
Fundamental Confluences for Trade:
- SNB has been repeatedly concerned about a strong CHF while BOJ is concerned about a weak JPY
- These levels may see BOJ intervening to stop the Yen weakness and vice versa for SNB
- SNB is the first developed nation to start their cutting rate cycles and BOJ has just started hiking
Suggested Trade:
Entry @ Area of Interest 169.50 - 170.20
SL @ 170.84
TP 1 @ 168.68 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 167.18
Risk-to-Reward @ Approx. 2.31 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
CHFJPY Timeframe: H4 - Medium Term (MT)
Direction: Short
Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames
- Price action may face some resistance from a previous support line
- Price has retraced to 61.8% Fib Retracement Level
- Aiming for the lower Support trendline from the mid of 2023
Fundamental Confluences for Trade:
- SNB has been repeatedly concerned about a strong CHF while BOJ is concerned about a weak JPY
- These levels may see BOJ intervening to stop the Yen weakness and vice versa for SNB
- SNB is the first developed nation to start their cutting rate cycles and BOJ has just started hiking
Suggested Trade:
Entry @ Area of Interest 169.50 - 170.20
SL @ 170.84
TP 1 @ 168.68 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 167.18
Risk-to-Reward @ Approx. 2.31 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
交易結束：達到停損點
JPY fundamentals is too dovish to see any strength at the moment unless BOJ intervenes.Position cut to protect capital. Live to fight another day.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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