Major resistance 110.43 (23.6% fib)
CHFJPY has lost more than 200 pips from high of 112.16 on account of broad based Swiss franc selling. The pair hits low of 109.88 and shown a good recovery. It hits high of 110.41 and is currently trading around 110.36.
On the higher side, near term resistance is around 110.43 and any violation above that level will take the pair to next level till 110.87 (300- 4H EMA)/111.31 (61.8%).
The major near term support is around 109.85 and any violation below will drag the pair to next level 109.50/109.15.
It is good to buy on dips 110.10-20 with SL around 109.60 for the TP of 111.30.
