CHF/JPY bearish twins candlestick pattern formation on daily TF
|CHF/JPY technical analysis
-
ATR range is 143.85-141.36.
-
Bearish Twins formation.
-
Bank holiday.
-
Final swing target is 139.11.
MEGATREND MAs: Bearish
D1 chart CHF/JPY
-
Bearish Twin candlestick formation.
-
Entry.
-
Intraday target.
-
Swing target.
The CHF/JPY ATR is 198 pips which makes it a very volatile market. Today we have a countertrend move happening as the JPY banks are on holiday. However the technical pattern that we see is Twin formation which is bearish. Consisting of two back-to-back Pinbars it is very bearish. Adding to that trend is bearish too. However, the holiday in the JPY means that there is no one to defend Yen levels and we might see a move up before a move down.
If trend is respected we should see 141.35 by the end of the trading day. During the night continuation is possible towards the swing target zone which lies between 139.66 and 139.11.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.