We are currently waiting for the hourly candle on CHFJPY to retrace to our 109.357 handle (orange box), once price reaches level and rejects off it creating a bearish hourly candle we will make our entry. We will have 2 take profits in place for this trade, the first will be at 108.993 (0.34%) and the second at 108.645 (0.65%).
NOTE OF INVALIDATION:
If hourly candle continues above retest zone and closes above 109.623 the whole setup will become invalid and you can take the trade off your watch list.