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Longchfjpy

From Cup and Handle to W Formation for CHF/JPY but target 186.04Initially, we saw a Cup and Handle form on CHF/JPY. The price however, never broke above the Brim level, and instead formed a W Formation. So now that we have a W Formation, it kind of changes the analysis but only in the breakout pattern form. So now we will wait for the price to break above the Neckline of the CHF/JPY. The rest of the analysis remains the same. Price>20 and 200 Target 186.04 Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by Timonrosso
CHF/JPY Cup and Handle almost ready to rip through the brim The Technicals are poised nicely for upside. I haven't seen much news on it, but I suspect it has to do with CHF being a safe haven during turbulent times. However, the fundamentals I can think are for causing upside for the CHF are the following: 🏦 Swiss Franc's Safe-Haven Appeal Strengthens In times of global economic uncertainty, investors are gravitating towards the Swiss Franc due to its stability and low government debt, enhancing its strength against the Yen. 📉 Japanese Yen Weakens Amid Economic Concerns The Bank of Japan's decision to maintain low interest rates and downgrade growth forecasts has led to a depreciation of the Yen, making CHF/JPY more attractive to traders. Cup and Handle Price>20 and 200 Target 186.04 Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by Timonrosso