- Harmonic Pattern formed = Bearish AB =CD pattern.
- CHFJPY is continuing its losing streak after showing a minor top around 116.04 on yesterday. The pair is showing slight weakness for the intraday and minor jump can be seen only above 116.05. It is currently trading around 115.67.
- Short term trend is slightly bearish as long as resistance 116.45 holds. Any break above 116.45 will take the pair to next level till 117/117.50.
- On the lower side, 115.50 (23.6% retracement of 112.55 and 116.47) will be acting as major support any violation below will drag the pair down till 115/114.60 (233- 4H MA)/113.50.
- Overall bullish invalidation only below 112.50.
It is good to sell on rallies around 115.75-80 with SL around 116.45 for the TP of 114.61/113.50.