CHFJPY BearBearBias Bearish from H4 TF
Fundamental
JPY is strong with a lot of bullish data. CHF is fairly strong but interest rate come down
Price Action
Price retrace back into Daily SR level. Formed a double top pattern. Price breakout of the SR level of H1 rejected from Daily S/R level. Price is bearish to continue the H4 trend align with the Trendline
Confluence
Reject daily S/R level & H4 bearish trendline. Formed double top pattern and broke lower low close. H1 SR level and bullish trendline both got broke which make it a strong confluence point
Setup
Short Entry Broken H1 SR level.
SL 2x ATR(20)
TP Next daily SR level below. R:R 1:3