CHFJPY Bearish Rejection from Supply ZoneCHF/JPYOANDA:CHFJPYAlpha_Trade_Scope The CHFJPY 1H chart shows price rallying strongly into a well-defined **supply zone around 204.30–204.40**, where bearish pressure has started to build. After the impulsive move up, price entered a consolidation phase just below resistance, indicating weakening bullish momentum. The Ichimoku cloud below suggests underlying support, but the inability to break higher signals a potential rejection. A short-term pullback is expected from this supply area. If sellers maintain control, price is likely to move downward toward the first key support. **Targets:** * **1st Target:** 203.70 – minor support and equilibrium level * **2nd Target:** 202.99 – strong demand zone and major support