FxWirePro: CHF/JPY trade idea

• Swiss franc weakened against all majors in the Asian session on Tuesday. Swiss franc fell to nearly 5- month low of 109.47 at the time of writing.
   
• On the data front, Switzerland   total sight deposits advanced to level of CHF564.1 billion in this week compared to 561.7 billion in the previous week.
   
• The pair showed a minor jump till 110.49 after making a decline of 109.67 on Apr 6th 2017.The upside capped by 10- day MA (110.78) and any minor jump till 112.05 (55- day EMA) is possible.
   
• On the lower side, the pair has closed below 110 level and dip till 108 likely.
  
  It is good to sell on rallies around 110 with SL around 111 for the TP of 108.

Resistance                                                                                

R1-110.78              

R2 -112.05

R3- 113

Support                   

S1-109.50

S2-108.60

S3-108