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CHFJPY recently reversed down from the resistance zone located between the key resistance level 114.500 (monthly high from the start of June) and the upper daily Bollinger Band. The downward reversal from this resistance zone started the active short-term correction (ii). Given the powerful bullish sentiment storm affecting yen today – CHFJPY is likely to extend the losses toward the next support 113.000 (target price for the completion of the active corrective wave (ii)).
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