The CHF/JPY pair has formed a double top pattern.
It has now made a lower high formation and crossed the support at 109.140, which indicates the beginning of downtrend.
The MACD indicator also confirms the set up by moving on the bearish terrain.
Hence, we expect the pair to move to the support level at 108.370.
It has now made a lower high formation and crossed the support at 109.140, which indicates the beginning of downtrend.
The MACD indicator also confirms the set up by moving on the bearish terrain.
Hence, we expect the pair to move to the support level at 108.370.