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CHF/JPY breaks major trend line support, decline till 120 is possible

  • CHF/JPY has broken trend line support around 122.40 (trend line joining 119.89 and 122.07) and declined till 121.93.
     
  • Short term trend is bearish as long as resistance 123 holds.
     
  • The pair's major support is around 121.90 and break below will drag the pair till 121/120 in short term.
     
  • The break of 123 will confirm minor trend reversal a jump till 123.50/124 is possible 

It is good to sell on rallies around 122-122.10 with SL around 123 for the TP of 120

 

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