CHF/JPY breaks trend line resistance, jump till 115/115.70 likely
Trend line resistance – 114 (trend line joining 115.74 and 114.70). CHF/JPY jumping sharply after forming a bottom at 112.97. Swiss franc is trading up on safe haven demands picks up. Both Swiss franc and JPY are conside…
Trend line resistance – 114 (trend line joining 115.74 and 114.70).
CHF/JPY jumping sharply after forming a bottom at 112.97. Swiss franc is trading up on safe haven demands picks up. Both Swiss franc and JPY are considered as safe haven but Japan’s is suffering due to its closeness to North Korea.
The pair is facing major resistance at 114 and any break above will take the pair to next level till 114.70/115/115.74.
On the lower side, major weakness can be seen below 113 and any break below will drag the pair to next level till 112.50/111.93 (61.8% fibo). The near term support is around 113.45.
It is good to buy on dips around 113.95-114 with SL around 113.45 for the TP of 115/115.70.
