CHFJPY – 4H Chart: Watching a Potential Reversal

The CHFJPY pair has been in a strong impulsive uptrend for over a week, but we may now be seeing signs of exhaustion.

On the 4-hour chart, price has printed a shooting star reversal pattern and is currently forming an engulfing candle — we’ll be watching closely for confirmation when this 4H candle closes at 1 p.m. EST.

Here’s what we need to see before acting:

Volume: Must be 80+ for confirmation.

Momentum: Currently pointing downward — A+.

Structure: Clear rejection after a strong impulsive move upward.

If volume confirms, this could shape up to be a high-probability sell opportunity, marking the potential start of a deeper pullback or full reversal.
I’ve identified two possible downside targets (Target 1 & Target 2) if this setup completes — chart is posted for visual reference.

As always, this is for educational purposes only — not financial advice.
Do your own research before investing or trading live funds.

Patience first, confirmation second.

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