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Chart of The day $CHFJPY 05-16-2018

CHFJPY price action technical analysis
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On the CHFJPY daily chart, we can see that the pair has broken below the multi-year uptrend line 112 level and is retesting the broken continuation wedge 110-110.500 zone. This is also a 50% Fibbo retracement of the latest swing down. If we get a rejection here, downside extension into the 108.557 level again is open.

Note: look for the short trade entries with the SL above the 110.550 level.

CHFJPY price action technical analysis

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