- CHFJPY continuing its losing streak for the past one month after hitting the high of 114.30 on Mar 14th 2017. The pair has broken major support 200- day MA at 109 and declined till 107.68 at the time of writing. It is currently trading around 107.94.
- The pair is the oversold territory (RSI –around 20) level and MACD (Bearish divergence) . So a minor jump till 109.15 (7- day MA) likely.
- JPY is trading against all major pairs on account of geopolitical tensions in North Korea.
- On the lower side, near term support is around 106.99 (61.8% retracement of 101.73 and 115.51) and any break below will drag the pair down till 104.
It is good to buy on dips around 107.75-80 with SL around 106.99 for the TP of 109.15/110.
Resistance
R1-109.15
R2 -110
R3- 111.59.
Support
S1-107.60
S2-106.99
S3-105
