Major trend line support - 110.35
CHFJPY has halted its 3 day of loosing streak and lost more than 150 pips from temporary top 111.95. the decline was mainly due to strong yen on declining US bond yield. US 3 month yield has crossed 10 year for the first time since 2007. The pair hits low of 110.37 and jumped more than 50 pips on recovering USDJPY.
On the higher side near term resistance 110.95-111.05 (300- and 89 4H EMA) and any violation above will take the pair to next level till 111.37/111.95.
The near term support is at 110.36 low made on Friday and below that level confirms bearish continuation and a decline till 110/109.85/109.52.
It is good to buy on dips around 110.55-60 with SL around 110.36 for the TP of 111.35.
