CHFJPY started rallying in the 19th of June, breaking up the double top where the rally petered out at 110.60, only to fall back below the ex-double-top (marked in green). The grand chart is given a sort of pennant with borders in blue. The mentioned nose-dive has patterned a bearish flag (pole 110.60 – 109.10).
A close below the ascending channel, i.e. below 109.40, should drive the currency back to test the support of the pennant near 109.00. if this scenario occurs, then the exit should be set once a close above 110.00 is triggered