CHFJPY WEEKLY

CHF/JPY Weekly Analysis (ICT Concept)

Market Structure & CHoCH (Change of Character)
• The market has shown a bearish CHoCH, indicating a shift from a bullish trend to a potential bearish move.
• A previous higher high (HH) failed to sustain, leading to lower highs (LH) and suggesting distribution.

Supply & Demand Zones
• A key supply zone is present near the previous high, where price experienced a strong rejection.
• The demand zone around 166.423 is currently being tested. A break below this level could lead to further downside.

Liquidity & Smart Money Perspective
• Liquidity sweep occurred near the previous high, trapping buyers before price reversed.
• Below 166.423, there is sell-side liquidity, which Smart Money might target for a deeper move down.

Key Fibonacci & Imbalance Zones
• The 166.423 level aligns with a possible 0.618 Fibonacci retracement, making it a key decision point.
• Imbalances (FVGs) below the current price suggest that the market may fill these inefficiencies before any major reversal.

Bearish Targets
• If 166.423 breaks, next potential downside targets:
• 158.000 (previous support zone & liquidity pool)
• 154.000 (institutional level & confluence zone)

Trade Setup (Short Bias)
• Entry: After a confirmed break & retest of 166.423 or a premium retracement to a lower timeframe supply zone.
• Stop Loss: Above the recent swing high or supply zone.
• Take Profit: First target 158.000, extended target 154.000.

💡 Final Thought: The CHF/JPY pair shows bearish momentum under ICT principles, with Smart Money likely targeting liquidity below current levels. However, confirmation from lower timeframes (H4/H1) is advised before execution. 🚀