CHFJPY Has Reached a Major HTF Demand ZoneCHF/JPYOANDA:CHFJPYEdgeTradingJourneyAfter several weeks of persistent selling pressure, CHFJPY has finally reached a high-timeframe demand zone that I have been monitoring for quite some time. The decline has been aggressive, breaking below the July range and sweeping previous swing lows. Technical Structure From a purely technical perspective, the market is still trading within a well-defined bearish structure. Lower highs continue to hold. Price has broken the previous consolidation. The recent impulsive candle has created a significant imbalance. We are now trading directly inside a strong weekly/Daily demand area. Market Positioning Approximately 60% of retail traders are currently short CHFJPY. Retail traders tend to increase exposure after large impulsive moves, which often leaves the market vulnerable to corrective rallies before the dominant trend resumes. COT Report Large speculators remain heavily net short CHF, confirming medium-term weakness in the Swiss Franc. Speculators are still net short JPY as well, but positioning has started to improve compared to previous weeks, suggesting that bearish pressure on the Yen may be stabilising. This combination still supports the broader bearish bias on CHFJPY, although it also increases the probability of a corrective retracement after such an extended decline. Seasonality August tends to be relatively neutral to slightly weak for the Swiss Franc. August has often been supportive for the Japanese Yen. This means that seasonality does not currently favour a sustained bullish reversal on CHFJPY. However, seasonality is rarely a timing tool. It simply reinforces the idea that any recovery should initially be treated as a corrective move until proven otherwise. My Trading Plan Rather than trying to predict the exact bottom, I prefer to let price confirm its intentions. My ideal scenario would be: ✅ Price holds inside the current demand. ✅ Liquidity below the lows is fully absorbed. ✅ A lower timeframe accumulation forms. If buyers regain control, I will be watching for a retracement towards the first FVG area around 199.00, followed by 200.50–201.20 supply zones. Those zones would become my preferred areas to evaluate fresh short opportunities in line with the higher-timeframe trend.