As an update to my previously published idea on the short-term bear case for CHFJPY, if we now focus on the 1H time frame we can see that price is forming a nice bear flag.
This allows us to follow quite well price action and wait for a close below resistance (I will be more confident with a close on the 4H or daily though). If this happens, I will add to my initial position and maintain the previously established TP at 159.50.
This allows us to follow quite well price action and wait for a close below resistance (I will be more confident with a close on the 4H or daily though). If this happens, I will add to my initial position and maintain the previously established TP at 159.50.
