CHFJPY 2H chart Update.

1 באוג׳ 2020

As mentioned in the previous analysis the pair have formed a bearish pattern on the Monthly timeframe. Looking at the 2H chart we can see that the price failed to break the resistance level and formed a rejection wick. Therefore we can immediately look for shorts positions. The first take profit will be the 50 retracement level ( which is perfectly aligned with a support level).