American Financial Live
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
American Financial Live
No Result
View All Result
Home Economy

USD/CHF in a strong up trend; USD/JPY breaks out of the zone

by
November 12, 2024
in Economy
0
USD/CHF in a strong up trend; USD/JPY breaks out of the zone

Overall Analysis

USD/CHF in an uptrend with strong channel support; the pair stays strong on the daily time frame. USD/JPY breakout of the distribution zone; breaking the halt zone will decide the direction.

USD/CHF Chart Analysis

15 min time frame

On the 11th Nov 2024, the pair kept its rally strong towards the upside with +0.55% returns. Price continues upwards in a channel-like structure with a higher high and higher low pattern creation.

Looking into the daily time frame, price gave a breakout of a cup and handle pattern. The expected target is 0.90600, which is nearly +3.80% from the breakout point. Currently, on the daily time frame, price needs to take a halt or create an area to continue its rally after the breakout.

Price can be seen moving upwards in a channel pattern on the 15 min time frame, with higher high and higher low creation. Strength is visible in the 15 min time frame.

There are a few trigger points mentioned below:

If price takes support from the ascending trendline and reverses, then buyers may consider entering the trade with a stop loss below the previous swing low and target till the resistance trendline or 0.88405 level. If price breaks the ascending support trendline, then sellers may consider entering after price closes below 0.87908 with a stop loss above the previous swing high and target up to the 0.87660 level.

USD/JPY Chart Analysis

15 min time frame

On the 11th Nov 2024 trading session, the pair created a range area where the price showed sideways momentum while respecting support and resistance. Price broke the channel upwards on the 12th Nov, later creating a retest zone above it. Price might move upwards if it breaks the zone.

Currently, on a daily time frame, price can be seen breaking out of a flag and pole pattern and retesting the exact support. Positional buyers may consider entering the trade with a stop loss below 152.142 and a target till the 157.493 level.

Looking at the price on a 15 min time frame, price broke out of its distribution phase and is currently making a halt above the 153.968 level.

If looking for an entry trigger, then a few are mentioned below:

If price breaks and sustains above the 154.157 level, buyers may consider entering the trade with a stop loss below 153.968 and target till 154.357 and 154.666 on a trailing basis. If price breaks down the halt zone, then sellers may consider entering the trade with a stop loss above the previous swing high and target the 153.482 level.

The post USD/CHF in a strong up trend; USD/JPY breaks out of the zone appeared first on FinanceBrokerage.

Previous Post

Bitcoin & Ethereum Analysis: BTC Hits High, ETH Is Steady

Next Post

Dollar Index Analysis: Strong Uptrend Faces Resistance Level

Next Post
Dollar Index Analysis: Strong Uptrend Faces Resistance Level

Dollar Index Analysis: Strong Uptrend Faces Resistance Level

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    DOJ releases former Special Counsel Jack Smith’s report on investigation into Trump election interference case

    DOJ releases former Special Counsel Jack Smith’s report on investigation into Trump election interference case

    January 14, 2025
    ‘Waste less, save more’: DOGE caucus member rolls out expansive bill package ahead of Trump inauguration

    ‘Waste less, save more’: DOGE caucus member rolls out expansive bill package ahead of Trump inauguration

    January 14, 2025
    Most Americans rate Biden as ‘failed’ or ‘fair’ president: new poll

    Most Americans rate Biden as ‘failed’ or ‘fair’ president: new poll

    January 14, 2025

    About American Financial Live

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Latest News

    • DOJ releases former Special Counsel Jack Smith’s report on investigation into Trump election interference case
    • ‘Waste less, save more’: DOGE caucus member rolls out expansive bill package ahead of Trump inauguration
    • #29193 (no title)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    • Thank you

    Copyright © 2025 americanfinanciallive.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2025 americanfinanciallive.com | All Rights Reserved