Minor trend line resistance - 110.97
CHFJPY has halted its one week of downside ans shown a minor recovery from low of 110.60. The pair lost nearly 135 pips from high of 111.95. The decline was mainly due to weakness in Swiss franc on decreasing demand for safe haven on account of easing US-Sino trade war. It is currently trading around 110.96.
On the lower side, near term support is around 110.50 and any violation below will drag the pair to next 110/109.53.
The near term resistance is around 111.03 (55- day EMA) and any break above will take the pair to next target 111.45/111.95. Any major trend reversal only above 111.95.
It is good to buy on dips around 110.85-90 with SL around 110.50 for the TP of 111.95.
