Sell CHFJPY Channel Breakout

The CHF/JPY pair on the M30 timeframe presents a potential shorting opportunity due to a recent downward breakout from a well-defined channel pattern.

Potential Short Trade :

Entry: Consider entering a short position (selling) below the broken support line of the channel after confirmation. Ideally, this would be around 169.90 or lower if the price continues to decline.

Thank you.

Comment:

Safe-Haven JPY: The Japanese Yen (JPY) is often sought after as a safe-haven asset during times of uncertainty. Geopolitical tensions and a potential global economic slowdown could increase demand for JPY, weakening CHF/JPY.