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- Major support - 116.75 (trend line support).
- CHF/JPY has shown a good sell off from the high of 118.55. The pair declined almost 200 pips yesterday. It is continuing its down trend and has declined 0.50% today. The pair hits low of 116.34 and is currently trading around 116.49.
- On the lower side, near term support stands at 116.05 (100- 4H MA) and any break below will drag the pair down till 115.75/115.
- Bullish continuation can be seen only above 117.45 (4H Kijun-Sen). Any break above will take the pair to next level till 118/1118.60.
It is good to sell on rallies around 116.75-80 with SL around 117.45 for the TP of 115.75/115.
