CHFJPY: Support Turned Resistance - Bearish Continuation SetupCHF/JPYOANDA:CHFJPYByteSignals Pair: CHFJPY (4H Chart) Pattern: Support Breakdown + Retest of Broken Level Market Structure: Price has decisively broken below a major horizontal support zone at 197.00 (which held multiple times as strong demand). We're now seeing a classic retest of this broken support, which is now acting as resistance—a textbook bearish setup. Trade Setup: Entry: 196.90-197.10 (retest zone/current level) Stop Loss: 197.60 (above resistance zone & recent highs) Take Profit: 196.20 (channel support ) Risk/Reward: 1:2 Bearish Confluence: ✓ Major support broken and flipped to resistance ✓ Price rejected from 197.00 zone multiple times previously ✓ Rising channel structure suggests 195.20 as next major support ✓ RSI showing bearish momentum below 50 ✓ Clean retest of broken level underway Trading Logic: This is a high-probability setup based on the "support-turned-resistance" principle. When significant support levels break, they typically act as strong resistance on retests. Currently, price is testing this flipped level—ideal for short entries before continuation lower toward the channel support. #CHFJPY #ForexTrading #Breakdown #SupportResistance #TechnicalAnalysis