CHFJPY broke out of our short term ascending support-turned-resistance line and is approaching our first support at 111.21 (horizontal overlap support, 23.6% Fibonacci retracement). A breakout below this level might trigger a strong reaction and push price down to our major support at 110.76 (horizontal swing low support, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (89) is also seeing a bearish exit in line with our bearish bias. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.