CHFJPY POSSIBLE Head & Shoulders

Hello Everyone,

Potential 4 hour short setup forming on CHFJPY,

We have broken the ascending trendline which has held price for the past two months and we now seem to be forming a head & shoulders which is a reversal pattern, the right shoulder lines up with a break retest of our trendline and 618 FIB level.

Hoping to short this down to our ascending daily trendline,

be warned this is a counter trend, safest play is to wait for a break and retest of the neckline or if you prefer the riskier option you can short from the 618.

Also check out our JPYBASKET chart where we have a possible inverse forming!

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