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Daily Analysis By FXGlory
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[QUOTE="FXGlory Ltd, post: 342025, member: 106971"] [URL='https://fxglory.com/2024/03/28/chfjpy-analysis-for-28-03-2024/'][B]CHFJPY analysis for 28.03.2024[/B][/URL] [ATTACH type="full" alt="CHFJPYH4-Daily-analysis-FX-H4-03.28.jpg"]60522[/ATTACH] [B] Time Zone: GMT +2 Time Frame: 4 Hours (H4)[/B] [B]Fundamental Analysis:[/B] On the H4 timeframe, the CHF/JPY pair exhibits a bearish trend, with key indicators and price action signaling a continued downward movement. Fundamentally, the Swiss Franc's status as a 'safe-haven' currency and the Japanese Yen's sensitivity to Japan's economic health and policy decisions play crucial roles in influencing this pair's dynamics. Technical analysis reveals a consistent pattern of lower highs and lower lows, with the price currently below the Ichimoku cloud, further supporting the bearish outlook. The MACD and RSI indicators align with this sentiment, suggesting strong bearish momentum without yet entering oversold territory. Support and resistance levels are identified at 167.315 and 168.575, respectively. Given these factors, traders might consider bearish strategies, closely monitoring economic indicators from both Switzerland and Japan for potential market shifts. Proper risk management, including setting stop losses above the Ichimoku cloud resistance, is advised to mitigate risks associated with sudden trend reversals. [B]Disclaimer[/B]: The provided analysis is for informational purposes only and does not constitute investment advice. Traders should conduct their own research and analysis before making any trading decisions. [B]FxGlory 28.03.2024 [ATTACH type="full" width="959px" alt="image_2024-02-15_07_27_41.gif"]60523[/ATTACH][/B] [/QUOTE]
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