CHFJPY has shown a massive recovery of more than 80 pips from low of 110.48. The jump was due to slight weakness in yen. The yen was trading stronger on declining US bond yield and yield inversion. But slight recovery in global market on US-China trade optimism is preventing Yen from upside. USDJPY has shown a good jump of nearly 80 pip from the low. So overall trend of CHFJPY is strong as long as trend line support 110.50 holds. It is currently trading around 111.25.
The near term resistance is around 111.50 and any violation above will take the pair to next level till 111.95/112.20.
On the lower side any violation below 111 will drag the pair to next level till 110.48 (trend line support) and any violation below confirm further weakness.
It is good to buy on dips around 111.15-20 with SL around 110.75 for the TP of 111.95/1212.20
