CHFJPY trending down

Trend channel broke. Now approaching the 50 MA which could act as support. Momentum is on the downside and a break of the 50 MA (gold line) support would result in further downward pressure. Next target would be 200 MA (red).

A small bounce from the 50 MA could give better short opportunities.

Overall Bias is short. Always use ATR indicator for stop loss. Trade smart.