FX.co ★ basuki2 | CHF/JPY

I’ve been closely watching the CHF/JPY pair, and it’s clear to me that buyers are still firmly in control of the market. The price has been consistently pushed higher, and we are now trading near recent highs. While this kind of strong upward movement often raises the possibility of a correction, I’ve learned that yen pairs, especially CHF/JPY, can be quite unpredictable. In many cases, what looks like an overextended move can continue much further than expected. At this point, buyers have already managed to push the price above the 203.90 level. This is an important psychological and technical zone, and the fact that price has broken above it shows just how strong the bullish momentum is right now. However, breaking a level is only part of the story. What I am really watching is whether the market can consolidate above the 203.90–204.00 range. If the price stabilizes and holds above this area, it would confirm that buyers are maintaining control and are ready to push the market even higher. If that scenario plays out, I see the next potential target around 204.70. This level could act as a temporary resistance, where price might slow down or react. However, given the current strength of the trend, I wouldn’t be surprised if buyers manage to break through it as well. If that happens, the next upside levels I am watching are 205.45 and then 206.25. These levels represent potential continuation targets in this strong bullish trend. Despite this clear upward momentum, I am still aware of the possibility of a price correction. Markets rarely move in a straight line forever, and even the strongest trends experience pullbacks. That said, trying to sell during such a powerful uptrend can be very risky. Selling against the trend often leads to losses, especially if the market continues to push higher without giving a meaningful correction.

For this reason, I consider selling CHF/JPY only during corrective phases, and even then, I approach it with caution. Counter-trend trades require precise timing and strong confirmation, which is not always easy to achieve in fast-moving markets like this one. A safer and more consistent approach, in my view, is to look for buying opportunities during price corrections. Entering the market on pullbacks allows me to align with the dominant trend while getting a better entry price. However, I also recognize that the market may not always provide a clean correction. In some cases, the price may continue to climb without significant pullbacks, making it harder to enter. Because of this, I remain flexible and patient. I prefer to wait for clear signals rather than forcing trades based on assumptions. There will always be new opportunities, and my focus is on preserving capital while participating in high-probability setups. Overall, CHF/JPY is showing strong bullish behavior, and I am primarily focused on following the trend rather than fighting it. While corrections may come, the current momentum suggests that buyers still have the upper hand, and I will continue to adapt my strategy based on how the market evolves.