Technicals

Add as a preferred source on Google

FxWirePro: CHF/JPY faces strong support at 113.30, good to buy on dips

Pattern Formed- triple Bottom Major Support- 113.30 CHF/JPY has declined sharply after hitting high of 114.70 on Nov 14th 2017. The pair hits low of 113.36 at the time of writing. It is currently trading around 113.46. S…

1 min read
FxWirePro: CHF/JPY faces strong support at 113.30, good to buy on dips
Image from the original EconoTimes article

Read the original article

  • Pattern Formed- triple Bottom
     
  • Major Support- 113.30
     
  • CHF/JPY has declined sharply after hitting high of 114.70 on Nov 14th 2017. The pair hits low of 113.36 at the time of writing. It is currently trading around 113.46.
     
  • Short term trend is slightly bullish as long as support 113.30 holds. Any break below 113.30 will drag the pair down till 112.50/111.93 (61.8% retracement).
     
  • The near term resistance is around 113.67 (23.6% retracement of 114.70 and 113.35) and any break above will take the pair to next level 114.15 (20- 4H MA)/114.50/114.709 (233- 4H MA).

 It is good to buy on dips around 113.30 with SL around 112.95 for the TP of 114/114.20. 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560