CHFJPY D1Swiss Franc/Japanese YenFX:CHFJPYWinlouh1️⃣ Higher Timeframe Context 🔹 Trend Overview Clear bullish structure since November Series of higher highs & higher lows Strong impulsive move into 203–204 zone Respecting ascending trendline Trend is still technically bullish. However: Price is now testing a major order block (OB) near 203. 2️⃣ Key Technical Zones 🔴 Major Supply (Order Block) 202.8 – 203.5 Previous rejection area Institutional selling zone Price recently wicked into this zone and rejected. 🔵 Demand / Retracement Zones 198 (0.5) 197 (0.618) 194 (0.9) The 197–198 zone aligns with prior structure and breakout area. 3️⃣ Structure Interpretation Observations: ✔ Higher highs intact ✔ Trendline respected ✔ Strong reaction from OB ✔ No confirmed bearish break yet This is likely a pullback inside bullish trend. 4️⃣ Probable Scenarios 🔴 Short-Term Pullback (Higher Probability) Rejection from 203 zone Move toward: 198 → 197 Healthy retracement into demand zone. 🟢 Bullish Continuation If: Price reclaims 203 Daily close above 204 Then extension toward: 206+ (−0.272 expansion) Would confirm continuation. 5️⃣ Market Context Insight CHFJPY is: A safe-haven vs safe-haven cross (CHF & JPY) Often reflects risk-neutral flows Currently trending stronger than USDJPY Compared to: AUDJPY → cleaner bullish continuation USDJPY → correcting CHFJPY → bullish but at supply 📌 Summary Trend: Bullish Current phase: Pullback likely Sell pressure: 203 zone Buy zone: 197–198 Breakout level: Above 204 Invalidation of bullish bias: Below 194