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FxWirePro: Buy CHF/JPY on dips

  • Swiss Franc was trading slightly higher against all majors as increased demad for safe haven demand asset. US trade war with other major economies is supporting price of CHF.USD/CHF has shown a minor correction of more than 50 pips after a jump till 0.99923 yesterday.
     
  • CHFJPY breaks minor trend line resistance at 111.25 and hits intraday high of 111.45. Intraday trend is bullish as long as support 110.80 (200- H MA) holds. Any hourly close below 110.80 will drag the pair down till 110.30/110.15.
     
  • The near term resistance is around 111.50 and any violation above targets 112/112.20.

    It is good to buy on dips around 110.95-111 with SL around 110.70 for the TP of 112/112.20
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