The smart money concept defines how institutional investors are showing interest in the CHFJPY pair. Based on the current context, we can expect the selling price to extend in the coming days.
CHFJPY Sell Found A Top
CHFJPY daily chart shows how the price formed a divergence with the RSI while the price made consecutive lower lows in the daily chart. As the current market context is bearish based on the structure. Any selling signal has a higher possibility to work.
CHFJPY Smart Money Concept Signal- Intraday price Action
In the H1 chart, the bearish break of structure happened after the ChoCH at the 136.27 level. Now investors should wait for a bullish correction towards the immediate order block at the 136.60 to 136.40 area from where any bearish candlestick pattern with an H1 close would be a sell signal.
According to the CHFJPY smart money concept signal, Any failure to hold the price at the 136.60 level would increase the possibility of reaching the 137.40 level which is the 50% level of the next bearish order block.
Is CHFJPY A Sell?
CHFJPY has a higher possibility to move down towards the 131.00 level where any selling opportunity in the intraday chart has a higher possibility of working out. On the other hand, any sign of the bullish recovery from the JPY weakness should eliminate the current price action where a daily candle above the 136.60 level would be an alarming sign for bears.