Using Smart Money Concepts (SMC) methodology: identifying a bearish order block at the 203.000–203.707 supply zone on the 2H chart, with a clear rejection wick and bearish displacement candle confirming the short bias. Multi-timeframe context: 2H structure shifted bearish after the failure to break above 204.000 and the formation of a lower high at 203.707, mirroring the prior distribution range. Setup posted transparently — entry, stop, and targets are defined before publication; outcome will be tracked and not edited or deleted regardless of result.

The setup
Pair: CHFJPY
Timeframe: 2H
Direction: Short
Setup type: Bearish Order Block (supply zone mitigation)
Entry zone: 203.000 – 203.700
Stop loss: 203.850
Target 1 (TP1): 202.000 — risk:reward 2.4R
Target 2 (TP2): 201.500 — risk:reward 3.5R
Risk per trade: max 1% of account
Session: London / New York
Higher-timeframe bias: Bearish — 2H formed a lower high at 203.707 after rejecting the 204.000 region, with structure rolling over from the prior distribution range

Why this setup works
The 203.000–203.707 zone aligns with the last bearish order block before the displacement leg down toward 202.000, making it the most structurally significant mitigation point for institutional sell orders. Price has already tagged the zone, printed a rejection wick, and is now trading back at 202.062 — the textbook order block reaction sequence.
From an SMC perspective, the 204.000 region engineered liquidity above the prior swing highs, which has now been swept. That liquidity grab provided the fuel for institutional shorts to fill at premium prices, and the subsequent bearish displacement candle off 203.707 is the footprint of that filling. The order block above is the clean re-entry level for any additional institutional positioning.
The trade idea targets the 202.000 round-number level for partial profit and 201.500 for full exit, both of which sit at prior demand reactions and unmitigated areas of inefficiency below current price. This keeps the reward asymmetric while respecting the higher-timeframe distribution structure.
Risk: if 2H closes above 203.850, the bearish order block is considered violated and the short thesis invalidates — a close above that level would suggest the 204.000 liquidity was not the true high and continuation buying remains in control.

Invalidation and management rules
Invalidation: 2H close above 203.850 invalidates the bearish thesis
Move stop to breakeven: when TP1 (202.000) is hit
Partial profit at TP1: 50% of position closed at 202.000, remainder runs to TP2 at 201.500
Time-based exit: if not triggered within 72 hours, idea is cancelled

This idea is for educational and analytical purposes. Trading involves substantial risk of loss. Past performance does not guarantee future results. Position sizing and risk management remain the trader’s responsibility.