CHF/JPY (Daily Timeframe)
A high probability, entry to go SHORT is forming @ 116.154 after the market found resistance @ 117.772. Only the upward break of 117.772 would cancel this bearish scenario.
Stop loss: 117.772
Take profit 1: 115.199
Take profit 2: 113.581
Take profit 3: 110.944
Strategy: Bearish Trend Reversal
This pair is currently having a retracement. So I will be looking to enter longs around the 112.000 levels if we see candle wick rejection on the 4hr time frame.
Take partial profits!
200 PIP GAIN 6/1 RR
investors’ focus on the risk of a slowing global economy, a sharp rally in the yen — a traditional haven currency — would make some sense to opening low risk short position from here, Also current administration’s strategy to use tariffs as threats to mold his foreign-policy against multiple countries will create an ongoing and unknown certainty .