chfjpy sell trade

Here's a bearish technical analysis for CHF/JPY on the H4 charts:

1. **Trend Analysis**:
- The overall trend on the H4 chart shows a bearish momentum. The price has been making lower highs and lower lows, indicating a downtrend.

2. **Moving Averages**:
- The 50-period and 200-period moving averages are above the current price, which is a bearish signal. The price is also below the 20-period moving average, reinforcing the bearish sentiment.

3. **Support and Resistance Levels**:
- **Resistance**: The nearest resistance level is around 177.00, which aligns with the previous swing high.
- **Support**: The immediate support level is at 175.50, which is a recent swing low. A break below this level could lead to further declines.

4. **Fibonacci Retracement**:
- The price is currently hovering around the 38.2% Fibonacci retracement level from the recent high to low. A break below this level could see the price targeting the 50% and 61.8% retracement levels, which are around 174.50 and 173.50, respectively.

5. **Technical Indicators**:
- **RSI**: The Relative Strength Index (RSI) is below 50, indicating bearish momentum.
- **MACD**: The MACD line is below the signal line, and both are below the zero line, which is a bearish signal.
- **Stochastic Oscillator**: The Stochastic Oscillator is in the oversold territory, suggesting that there might be a short-term pullback before the downtrend continues.

6. **Chart Patterns**:
- There is a potential bearish flag pattern forming, which could indicate a continuation of the downtrend if the price breaks below the flag's lower boundary.

7. **Volume Analysis**:
- The volume has been decreasing during the recent upward corrections, suggesting that the bullish moves are weak and the bears are likely to regain control.

In summary, the CHF/JPY pair on the H4 chart shows several bearish signals, including a downtrend, bearish moving averages, and bearish technical indicators. Traders should watch for a break below the support levels and the continuation of the bearish patterns for potential short opportunities.

Source: Conversation with Copilot, 7/23/2024
(1) CHFJPY Chart, Rate and Analysis — TradingView. tradingview.com/symbols/CHFJPY/.
(2) CHFJPY technical analysis - TradingView. tradingview.com/symbols/CHFJPY/technicals/.
(3) CHF/JPY Technical Analyses - Forex - CentralCharts. centralcharts.com/en/6950-chf-jpy/analysis.
(4) CHFJPY technical analysis - publisher.fxblue.com. publisher.fxblue.com/market-data/technical-analysis/CHFJPY.