CHFJPY - Possible start of a large correction?

PAIR IN FOCUS: CHFJPY
ACTION: SHORT
HORIZON: SHORT TO MEDIUM-TERM

Price started correcting a little on the last trading day of the week, and could potentially be the start of a larger price correction. Looking for a retest of the S/R level with bearish price action before considering going short. This pair is largely affected by the risk on/off sentiment in the market, and therefore trade deal news will affect it. There is a possibility that price creates another swing high before the actual drop.

The TP levels and Stop Loss are indicated on the chart. Remember to manage your risk!

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