CHFJPY is contracting within the triangle formed by an ascending and a descending trend line.
The pair is currently at the descending trend line for the third time and is being rejected. Inside the formation, there is a mini upside trend line which is supporting the pair. This line has a high probability to be broken to the downside.
If the break happens, I will short trade the pair until 110.908.
In my sentiment, once 110.900 is reached, the pair can decline further down to 109.690
The pair is currently at the descending trend line for the third time and is being rejected. Inside the formation, there is a mini upside trend line which is supporting the pair. This line has a high probability to be broken to the downside.
If the break happens, I will short trade the pair until 110.908.
In my sentiment, once 110.900 is reached, the pair can decline further down to 109.690
Trade closed: target reached