CHF/JPY faces strong resistance around 105.20, break above targets 106.56/107.60

• Major resistance – 105.18 (3 day EMA)
   
• Major support – 103.50 
   
• The pair has made a high of 104.91 yesterday and slightly declined from that level. It is currently trading around 104.77.
   
• CHF/JPY’s major resistance is around 105.20 (3 day EMA) and any break above indicates slight bullishness. Any indicative break above 105.20 will take the pair to next level till 106.56 (daily Tenken-Sen)/107.69 (61.8% retracement of 111.40 and 101.73).
   
• On the lower side, major support is around 103.50 and any break below targets 101.75/100.63/99.38 (161.8% retracement of 101.73 and 105.18).

It is good to buy above 105.20 with SL around 104 for the TP of 106.56/107.69.