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- Chart pattern- Double bottom
- CHF/JPY has recovered after forming a bottom at 113.66 on Jan 10th 2018. The pair hits high of 114.50 and is currently trading around 114.32. The pair has shown a minor jump of 82 pips from the low. It is currently trading around 114.31.
- The pair is trading slightly above 114.04 (hourly Tenkan-Sen) and 114.13 (hourly Kijun-Sen).On the higher side, near term resistance is around 114.50 (cloud top) and any break above will take the pair to next level till 114.73 (200- H EMA)/115.10 (233- H MA)/115.21. Short term bullish continuation only above 116.50.
- The near term support is around 113.66 and any break below targets 113.30/112.95.
It is good to buy on dips around 113.75 with SL around 113.30 for the TP of 114.55/115.
