CHF/JPY, POTENTIAL SHORT BIAS
Price topped out at 111.974, which held as resistance around the 12th April. Since then price action has seen sellers overrun any potential buying power, after such a strong push we expect to see exhaustion, which we did back up to the 110.50 area. Price is now being squeezed within the symmetrical triangle. Bears where having difficulty breaking the 109.111 support. We know once it does it will become a flip zone (support to resistance). Highlighted by the blue thin rectangle.This area also correlates with my 0.618 Fib region for added confluence.
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