Ivan Zhigalov
⬤ CHF/JPY continues trading within a broader bullish structure after rebounding from a clearly defined support zone. The pair is targeting levels above 202.296, extending the advance that started from the February 2025 low. The recent chart shows a completed corrective phase followed by renewed buying pressure, reinforcing the upward bias.
⬤ The pullback unfolded as a double corrective pattern that concluded around the 196.0 level in the blue box area—identified as a preferred entry region for buyers. Price bottomed near 196.069 before turning higher, closely matching the projected support zone. The rebound suggests selling pressure was corrective rather than the beginning of a larger bearish move.
⬤ From a structural perspective, CHF/JPY remains within a daily rally sequence. The recovery from blue box support has maintained the pattern of higher lows, while price action continues respecting the invalidation level near 192.42. As long as this level holds, the technical outlook favors additional upside rather than trend reversal. Selling isn't recommended within the current structure.
⬤ This setup matters for the broader forex market, as CHF/JPY often reflects shifts in relative strength between the Swiss franc and Japanese yen. A sustained move toward and above the 202 area would confirm continuation of the larger rally that began in early 2025. The well-defined support and invalidation levels provide clear technical reference points as the pair progresses through the next phase of its trend.
Ivan Zhigalov
