CHF/JPY Trade Idea

• Pattern Formed- M-Shaped Pattern
   
• Major support- 109.60
   
• 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 111.30 /111.85.
   
• 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

R1-110.25

 R2-111

R3-111.30

Support

S1-1.8320

S2-1.8770

S3-1.8690