03.06.201602:29:00UTC+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