CHFJPY Short from the 112.500 area. This area has confluence with the 38.2 fib level, along with a strong monthy resistance area, and a very bearish 1h close below that area causing the intraday structure to stop forming higher highs and higher lows. I like this move to go about 90 pips to the downside to around the 111.600 area. Buyers seem trapped at that intraday high where it rejected the 4h trendline.
Trade active:
Entry 112.500
Trade closed: target reached:
TP Hit +90 pips