ChfJpy Longterm - SELL

The SNB was one of the first to start the rate-cutting process. Japan, on the other hand, has entered a rate-hiking phase, contrary to other developed central banks.

This contrasting approach is helping the Japanese Yen, which has experienced a historic depreciation, to recover.

When we look at the long-term main uptrend, we see that the trend price movement aligns with Fibonacci retracement levels. This technically signals the completion of the main uptrend.

Our initial target is to see a drop towards the 23.6% Fibonacci level. If this level breaks, we expect a further decline towards the 38.2% level.

Since this analysis is based on a weekly chart, these levels are long-term targets, and there will be several intermediate pivot levels and corrective moves along the way.

If you missed the previous peak, the current price offers a second chance to sell. You can follow our analysis for intermediate levels, new position additions, and profit-taking opportunities. We will be sharing updates on lower time frame levels.