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2016.06.0302:29:00UTC+00Chf/jpy Breaks Major Support 110.20, Targets 108.80/108

  • Pattern Formed- M-Shaped Pattern
     
  • Major support- 110.20 (24 th May low)
     
  • The pair has broken major support 110.20 and declined till 109.60 at the time of writing.
     
  • Any break below 110.20 will drag the pair down till 108.90 (161.8% retracement of 110.203 and 112.32)/108.
     
  • On the higher side major resistance is around 111 and any violation above 111 will take the pair till 111.85 /112.32.
     
  • Overall bearish invalidation only above 112.75.

It is good to sell around 110 with SL around 111 for the TP of 108.85/108

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