{"id":11898,"date":"2022-04-15T08:39:59","date_gmt":"2022-04-15T08:39:59","guid":{"rendered":"https:\/\/tradingshot.com\/?p=11898"},"modified":"2023-05-09T08:42:24","modified_gmt":"2023-05-09T08:42:24","slug":"chfjpy-correction-ahead","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/04\/15\/chfjpy-correction-ahead\/","title":{"rendered":"CHFJPY Correction ahead."},"content":{"rendered":"

 <\/p>\n

The CHFJPY pair has been on a strong rally that smashed through our target on the last analysis:<\/p>\n

\"CHFJPY<\/a><\/div>\n

Right now the price formed a new Channel Up, remaining within a Fibonacci Channel where it broke above the 1.5 Fib extension and almost reached as high as the 2.0.<\/p>\n

However with the RSI hitting its October 20 2021 Resistance and the MACD forming a Bearish Cross, we have a strong set of indicators pointing towards a pull-back similar to June 2021 and August 2020. On both of those correction phases, the price pulled-back to at least the 0.5 Fibonacci retracement level. Currently that is on 126.565. It might make contact with the 1D MA200 (orange trend-line) there. If broken, the last Support is the 0.618 Fib at 124.455. After that correction we expect the pair to continue its long-term bullish trend.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/CHFJPY\/7h0EZx1V-CHFJPY-Correction-ahead<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  The CHFJPY pair has been on a strong rally that smashed through our target on the last analysis: Right now the price formed a new Channel Up, remaining within a Fibonacci Channel where it broke above the 1.5 Fib extension and almost reached as high as the 2.0. However with the RSI hitting its<\/p>\n","protected":false},"author":611,"featured_media":11899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1637],"tags":[],"class_list":["post-11898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=11898"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11898\/revisions"}],"predecessor-version":[{"id":11901,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11898\/revisions\/11901"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/11899"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=11898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=11898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=11898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}