CHF/JPY Weakens, Sell At This Level

Sell positions are entered when a valid Daily rejection is formed and confirmed on the H4 timeframe when testing the supply area of 171.33-172.29.

The selling opportunity this time will capitalize on the potential weakening of prices when testing the supply area. For further clarity, please refer to the explanation below.

CHF/JPY Daily
Level: Supply 171.33-172.29

On the Daily chart, there is a potential selling area in the supply zone of 171.33-172.29. Sell positions await the price to test the supply area and form a valid rejection in the form of a bearish engulfing candlestick pattern or pin bar (with a long upper shadow).

CHF/JPY H4
Signal: Daily Rejection Followed by H4 Candlestick Confirmation

For a sell entry, the signals used include 2 stages:

Formation of a valid Daily rejection in the form of a bearish engulfing candlestick pattern or pin bar (with a long upper shadow) when the price tests the supply level of 171.33-172.29.
Wait for a pullback first, then take a sell position using confirmation from candlestick patterns on the H4 timeframe such as bearish engulfing, pin bar (with a long upper shadow), or bearish inside bar.
CHF/JPY Entry Opportunity
From the above description, it can be concluded for the entry opportunity with the following plan:

• Position: Sell
  
• Level: Supply 171.33-172.29
  
• Signal: Daily Rejection followed by H4 candlestick confirmation
  

Attention:

1. Entry only when confirmation has been formed.
   
2. Always use good money management (1-2% risk per transaction).
   
3. If a sell position has been taken and the price has not yet reached the SL or TP, close the position as soon as possible (emergency exit) if the price forms a candlestick reversal pattern (bullish engulfing, pin bar with a long lower shadow, or bullish inside bar) on the Daily timeframe.
   

Hopefully, this analysis helps readers to observe price movements and make transaction decisions.