CHFJPY Short On Retracement

CHFJPY has finally been rejected by the resistance zone. Traders who viewed my previous analysis and took the short would be in good profits right now. Bears can look to enter (or re-enter) short positions on a retracement. Ideally, CHFJPY should retrace closer to the resistance zone to give a higher probability short setup. Once CHJPY retraces deeper, bears should monitor the pair and wait until it gives a valid entry that satisfies their strategy.

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Best of luck traders!