"Traders Take Note! CHF/JPY Approaching Critical Levels"
CHF/JPY Technical Analysis
Key Resistance in Focus
CHF/JPY is currently testing a strong resistance zone around 171.35, which has historically acted as a rejection area. A breakout above this level could signal further bullish momentum, while a rejection may lead to a pullback.
Support and Moving Averages
The support area around 168.75–168.50 aligns with the 50-period moving average, which has provided dynamic support. If price retraces, this zone could act as a potential rebound point.
Potential Scenarios
- Bullish Breakout: A clear break and close above 171.35 could drive prices towards 172.50 and beyond.
- Bearish Reversal: A rejection at resistance may lead to a retest of 168.75, with further downside risk toward 168.00.
Market Outlook
Traders should monitor price action at resistance for confirmation of a breakout or rejection before entering trades. Stay cautious of volatility around key levels.
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Key Resistance in Focus
CHF/JPY is currently testing a strong resistance zone around 171.35, which has historically acted as a rejection area. A breakout above this level could signal further bullish momentum, while a rejection may lead to a pullback.
Support and Moving Averages
The support area around 168.75–168.50 aligns with the 50-period moving average, which has provided dynamic support. If price retraces, this zone could act as a potential rebound point.
Potential Scenarios
- Bullish Breakout: A clear break and close above 171.35 could drive prices towards 172.50 and beyond.
- Bearish Reversal: A rejection at resistance may lead to a retest of 168.75, with further downside risk toward 168.00.
Market Outlook
Traders should monitor price action at resistance for confirmation of a breakout or rejection before entering trades. Stay cautious of volatility around key levels.
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Trade attivo
Nota
Nota
120 pips+ achieved, re -entry was executed from 171.200 . Trade chiuso: obiettivo raggiunto
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.