CHFJPY - Potential Buying Opportunity to 168.700

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CHFJPY is currently approaching a critical demand zone and as the market has been in a strong downtrend, everyone’s watching to see if buyers will step in and turn things around.

That particular demand zone has previously acted as a strong support level and now as price tests this area again, the question is whether support will hold or if sellers will push through to lower levels.

If support holds, I anticipate a move toward 168.700, where price could encounter resistance.

However, the market rarely moves in a straight line. If buyers can’t hold this demand zone, we could see price break lower, leading to further downside and possibility for a continuation of the bearish trend. For now, let's see how price reacts at this key zone—will it be a turning point, or will sellers remain in control?

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