فصل 19 Is CHFJPY going up?
23/03/2023
Summary
Switzerland's interest rate decision leads the market
Fundamental analysis
Fundamentally on this pair CHFJPY we see today's interest rate decision has been released in Switzerland at 1.5% Higher than the previous result of 1% Which give strength to the CHF as a currency On the other hand we have tomorrow's CPI inflation rate in Japan with market expectation at 3.1% Lower than the previous result at 4.2% Which is this lead to a weakness for the Japanese yen.
Switzerland Policy Interest Rate
Previous 1%
Actual 1.5%
Japan Core CPI YoY
Previous 4.2%
Expected 3.1%
Technical analysis
In this 4-hour diagram chart, the market price now is 143.151, we expect the market to push up the price to the previous supply zone at 144.000 then we expect the price to create a sideway movement inside this supply zone and then we expect the price to push even higher to the oldest supply zone at 146.000 supported by (Inverted head and shoulders) as a market structure with 20 moving averages pointing up.
Trading Recommendation
Trading Direction: Long
Entry Price:144.022
Target Price:146.033
Stop Loss: 142.804
