FxWirePro: CHF/JPY forms bearish gartley pattern, good to sell on rallies
Harmonic Pattern formed- Bearish Gartley pattern Potential Reversal Zone (PRZ) CHF/JPY has shown a jump of 120 pips from the low of 114.72 made on Jan 3rd 2018 and pair hits intraday high of 116.02. It is currently tradi…
CHF/JPY has shown a jump of 120 pips from the low of 114.72 made on Jan 3rd 2018 and pair hits intraday high of 116.02. It is currently trading around 115.92.
The pair’s major resistance is around 116.50 (Sep 19th 2017 high) and any break above will take the pair to next level till 117.28 (76.4% fib)/118/118.60.
On the lower side, minor support is around 115.40 (23.6% retracement of 113.29 and 116.02) and any break below will drag the pair to next level till 115/114.72 (Jan 3rd low)/114.40 (daily Kijun-Sen).
It is good to sell on rallies around 116.10-20 with SL around 116.50 for the TP of 114.70.
