Technical analysis becomes less of an exact science when markets are extremely volatile but we can nonetheless put some levels and moves into perspective. The break below 109.50 yesterday has reignited the bear trend so in the absence of any clear sign of a basing pattern, selling rallies makes sense. There is a previous intraday high and the 15-day MA at 114.40 and selling as close to there as possible looks like a sensible move (at least you know where to put a stop). Support is obviously at yesterday’s 108.90 low so if you can play the edges of this 550 pip range you’ll have done well.