The pair has been trading in a falling channel pattern. Traders are suggested to go short at current prices with the target of 1.0475. After a success in this, the traders can grab the buy opportunity with same pattern as most likely the pair will rebound from lower trend line and move towards upper trend line of the channel.
Falling wedge pattern in CHFJPY; there is a possibility of testing the lower trend line. Traders are suggested to go short at current price with the target of 107.24.
Stop Loss: 110.28
A completion of sell target can bring a reversal and open up the opportunity of buy position as shown in the chart.
