CHFJPY Short: Macro Divergence Meets a 1H Trendline BreakSwiss Franc vs Japanese YenFUSIONMARKETS:CHFJPYR3v_CHFJPY is presenting a bearish setup based on both macro divergence and technical structure. The Japanese yen currently holds a strong long bias, supported by hawkish Bank of Japan guidance and continued policy-normalisation expectations. In contrast, the Swiss franc ranks as the weakest currency on my dashboard, with a short bias driven by near-zero carry, weak underlying inflation and a relatively dovish SNB outlook. Technically, CHFJPY has broken below the rising 1H trendline that supported the advance throughout August. Price also failed to sustain the latest push toward 198.70–199.00, creating another rejection from the recent resistance area. Trade plan: • Entry area: 197.60 • Stop loss: approximately 198.80 • Target: approximately 192.70 • Estimated risk-to-reward: around 1:4 The bearish thesis remains valid while price stays below the broken trendline and the 198.70–199.00 resistance zone. A sustained move back above that area would invalidate the setup. The main risks are renewed CHF safe-haven demand, a sudden deterioration in global risk sentiment, or a dovish shift in Bank of Japan expectations. This is my market analysis, not financial advice.