CHFJPY Bearish Pattern Loading

17 set

The pair has recently rallied into the 186.60 resistance zone, which has acted as a strong ceiling in the past. Price is now struggling to break higher, showing rejection candles near this level. Sellers have stepped in around the same area multiple times before, confirming it as a key supply zone.
On the downside, the nearest support lies around 185.15, followed by deeper levels near 184.40 and 183.60. These zones represent potential targets if bearish momentum continues. The broader market structure shows CHFJPY losing steam after a strong push up, suggesting a likely corrective leg lower.
Momentum indicators (from the chart’s rejection) are also hinting that buyers are fading, giving more weight to your bearish view.
Here’s a clean trade setup based on the chart 📉:
• Entry: 186.10 – 186.20 (near resistance rejection zone)
• Stop-Loss: 186.62 (above resistance)
• Take Profit 1: 185.15 (nearest support)
• Take Profit 2: 184.40 (extended target)
• Risk/Reward: ~1:2.2
🔑 Risk Handling Strategy
• Book partial profits at 185.15 to secure gains, then let the rest ride toward 184.40.
• Use a trailing stop once TP1 is hit—move SL to breakeven or slightly in profit to lock in risk-free trade.
• If bullish pressure unexpectedly resumes and price breaks above 186.60, exit the trade early, as it would invalidate the bearish bias.
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📌 Summary: CHFJPY is showing rejection from a major resistance zone at 186.60. The technicals support a bearish correction toward 185.15 first, and potentially 184.40 if selling pressure accelerates. Risk is well-defined, and profit-taking with trailing stops ensures protection while allowing room for extended downside.
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17 set

Trade attivo

Move SL to Breakeven