CHFJPY has had a bearish movement at a very strong resistance, and now appears to be getting rejected at the resistance once again after a retracement. This presents bears with an attractive opportunity to short the pair now (aggressive entry) or wait until a break of the counter-trendline occurs (conservative entry). A stop-loss can be placed a few pips above the resistance zone, and a first target at the previous low.
See my previous idea for a breakdown of the pair.
Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below, all input is appreciated.
Best of luck traders!
See my previous idea for a breakdown of the pair.
Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below, all input is appreciated.
Best of luck traders!
