FxWirePro:CHF/JPY Trade Idea

Major Resistance- 112.10

As per our analysis CHF/JPY is continuing its bullishness and has broken major resistance 112.10 level. The pair was struggling to break above 112.10 for past two weeks. It hits high of 112.27 at the time of writing and is currently trading around 112.38.

The near term resistance is around 112.40 and any convincing break above targets 113/113.18.

On the lower side, next support is around 111.75 and any break below will drag the pair down till 111.53/111. The pair should break below 110.70 for further weakness.

It is good to buy on dips around 112 with SL around 111.50 for the TP of 113/113.18.

Resistance

R1- 112.40
 

R2 - 113
 

R3- 113.18

Support               

S1- 111.75

S2- 111.50

S3- 111