CHFJPY SHORT

2023年3月29日

The monthly time frame which represents our long-term outlook indicates a bearish outlook. We are witnessing a return to an old supply in the region of 147 price handles. Currently, we are witnessing a bullish correction targeting the 147-149 price handles. Once these regions are mitigated, we expect the bearish slide to resume targeting 127-135 regions. How do we intend to trade this pair? We have confluence presenting itself in the form of liquidity and fresh supply zones at 147.8-148.4. We are placing our sell limit order at 148.5 targeting 138.9 (conservative target).
If the pair break structure at 137.6;
1. There is likely to be a bullish correction that will present additional sell limits.
2. The bearish slide will aggressively target the unmitigated zone of 127-132.
We will update our outlook as the market continues to give us additional information. Kindly note our analysis is based on smart money concepts; supply and demand.


Risk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer: I am not a financial advisor and I am not telling you where or when to take a trade. I express my personal opinion only. Trading financial markets involve risk. I am not responsible for any losses incurred due to your trading. I do not recommend any specific trade or action, and any trades you decide to take are your own