Chart analysis CHFJPY trend exhaustion (and reversal) Swiss Franc vs Japanese YenICMARKETS:CHFJPYTranquilo1154This pair has had an incredible bull run for more than 2.5 decades but this seems to have ended or at least paused. Have a look at the last 3 daily highs – how they made very small & minor gains the last 2 times. This is a clear sign of trend exhaustion and at the very least, we should see a nice retracement. Signs of this are already visible as the pair has made a series of lower highs and lower lows. Trade parameters The markets are currently unusually volatile, sudden unexpected spikes in either direction is common. Trading with smaller position size and giving extra space for stops is recommended. Entry – I will look for a small retracement and will try to take a short close to the 200.00 level. Stop – above the nearest major swing high. Target(s) depend on the trading style, but 196.00, 192.50, 192.00 seem logical. I would stay flexible and remain open to taking profit and re-entering if price action confirms a continued move. General comment Nothing in trading is ever 100%, so please allow price action to fully develop in your desired direction before pulling the trigger. This is not a trade recommendation