The CHF/JPY pair on the M30 timeframe presents a potential shorting opportunity due to a recent downward breakout from a well-defined channel pattern.
Potential Short Trade :
Entry: Consider entering a short position (selling) below the broken support line of the channel after confirmation. Ideally, this would be around 169.90 or lower if the price continues to decline.
Thank you.
Potential Short Trade :
Entry: Consider entering a short position (selling) below the broken support line of the channel after confirmation. Ideally, this would be around 169.90 or lower if the price continues to decline.
Thank you.
Note
Safe-Haven JPY: The Japanese Yen (JPY) is often sought after as a safe-haven asset during times of uncertainty. Geopolitical tensions and a potential global economic slowdown could increase demand for JPY, weakening CHF/JPY.
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