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Francisbluepipsfx

CHFJPY RANGE. A possible move down to the daily support.

Swiss Franc / Japanese Yen (FX:CHFJPY)  
Francisbluepipsfx  
FX:CHFJPY   Swiss Franc / Japanese Yen
Trend Analysis Rectangle Chart Patterns sidewaystrend rectanglepattern rectanglepatterns range rangebound rangetrading rangeboundmarket CHFJPY
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trendanalysis rectangle chartpattern sidewaystrend rectanglepattern rectanglepatterns range rangebound rangetrading rangeboundmarket chfjpy
The price has been trapped within this range since December last year. This last week, the price gave a fake break out of the resistance, then closed the week back within the range (forming a weekly pinbar). Within this upcoming week I can expect to see the price drop further down to the support once again around 166.305. Before I take entry on this pair, I'll wait for the price to once again retest and reject the range resistance at 117.613. If the price will give a daily rejection of that level, then I'll be interested in taking a short trade back to that support at 166.305.
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