CHFJPY Trade idea

12 Jul 2020

We were in a clear bullish channel that got broken after reaching the strong Supply Zone. I'm Expecting a pullback in and around the 50 and 61.80 Fibonacci Level, see some rejection from that zone to open a short trade. My targets will be the -27 as target 1 and -61 as target 2. Let's remember that when we break a channel we can be looking to recover at least 80% of that rally which is around my second target at 112.521.