chf/jpy trading analysis for next week

Hey Traders!

Let's analyze CHF/JPY on both the Daily (D1) and H4 timeframes to identify potential trade opportunities.

Daily Timeframe (D1) Analysis

✅ Structure Break & Order Block Respect:

The market broke structure and then pulled back to its order block.

The price has been consolidating at this level for the past week, showing respect to the order block.

This suggests a potential sell-off from this level.

H4 Timeframe (H4) Analysis

✅ Double Top Formation & RSI Divergence:

• A double top pattern is forming, indicating a potential trend reversal.
• RSI divergence suggests weakening bullish momentum, increasing the probability of a sell-off.
• Neckline Break is Key:
  • If the market breaks the neckline, we can expect further downside movement.
  • If the price does not break the neckline, there will be no sell confirmation.
  • 
    
  • 
    
  • Trading Strategy – Bearish Setup

📉 Sell Confirmation

• Wait for the neckline of the double top to break with strong bearish momentum.
• A retest of the neckline after the breakout will strengthen the sell setup.
• Potential downside targets: 170.50, 169.00, and 167.50.

📈 Invalidation of Bearish Setup

• If the neckline is not broken, no sell trade should be taken.
• If the price breaks above the order block, it could signal further bullish continuation
• 
  
• 
  

Conclusion

📌 CHF/JPY is showing signs of a potential bearish move, with structure break on D1 and a double top with RSI divergence on H4.
📌 A confirmed neckline break will provide a strong sell setup, but without the break, no sell trade should be taken.
📌 Key support levels to watch: 170.50, 169.00, and 167.50.

🚀 Trade smart, wait for confirmations, and manage risk carefully! Let me know if you need further updates.

H4 TF