Lingrid | CHFJPY shorting OPPORTUNITY from KEY level

After a long consolidation, CHFJPY made a sharp breakout toward 175.00, retesting a key resistance zone. This level also aligns with the upper boundary of a previous trend channel. If price fails to hold above it, a pullback toward 173.70 is expected before any further continuation. As of now, this rally looks like a test rather than a confirmed breakout.

📈 Key Levels

• Sell zone: 174.90 – 175.00
  
• Sell trigger: rejection from resistance
  
• Target: 173.70
  
• Buy trigger: clean breakout above 175.00 with retest
  

💡 Risks

• Quick rejection from 175 may trigger a deeper correction.
  
• JPY strength can accelerate downside movement.
  
• Watch for false breakouts above resistance — confirmation is crucial.
  

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻