- Harmonic pattern formed – Bullish Gartley pattern
- Potential Reversal Pattern- 112.50
- CHF/JPY has declined continuously for the past six days and shown a minor jump yesterday. The pair dipped till 113.40 and is currently trading around 114.07.
- The major support is around 112.50 any further bearish continuation can be seen only below that level. Any violation below 112.50 will drag the pair to next level 111.93 (61.8% retracement of 107.68 and 118.60)/111.
- On the higher side, near term resistance is around 114.33 (38.2% retracement of 115.74 and 113.40) and any break above will take the pair to next level till 114.88 (20- day MA)/115.75.
It is good to buy on dips around 113.60-65 with SL around 112.50 for the TP of 114.85/115.50.
