CHFJPY - GTP 80% - DOWN - 700 pips
Based on the latest COT data for CHF/JPY:
- Long OI: 6,491 (6.58%)
- Short OI: 56,284 (57.04%)
- Net positions: -49,793 (Bearish)
- The data shows an increase in long positions but a significant dominance in short positions, indicating a strong bearish sentiment. The probability of further downside movement remains high based on these figures and the downtrend visible on the chart. The target remains at the previously identified level.
- What target price level and %
- ChatGPT
- Based on the chart and the latest COT data for CHF/JPY:
- Target Price Level: The target level on the chart is identified around 168.000.
- Percentage Probability: Given the bearish sentiment reflected in the COT data and the ongoing downtrend, there is an estimated 80% probability of continuation lower to reach this target level.
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