FxWirePro: CHF/JPY faces strong resistance at 200-4H MA, good to sell on rallies
Major resistance- 105.30 (200 – 4H MA). Major support – 104.30 (trend line joining 103.27 and 103.72). CHFJPY is facing strong resistance around 105.30 (200- 4H MA) and any slight bullishness can be seen only above that …
Major support – 104.30 (trend line joining 103.27 and 103.72).
CHFJPY is facing strong resistance around 105.30 (200- 4H MA) and any slight bullishness can be seen only above that level. It is currently trading around 104.38.
On the lower side major support is around 104.30 and any break below targets 103.69/103.25/102.07 (Jul 8th 2016 low).
Any break above major short-term resistance will take the pair till 106/107.80.
It is good to sell on rallies around 104.80 with SL around 105.30 for the TP of 103.27/102.10
