CHF/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
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