FxWirePro: CHF/JPY trades below major support 111.50, dip till 110.20 likely
Major Support – 111.50. CHF/JPY has broken major support at 111.50 and declined till 111.32. It has declined almost 800 pips from temporary top of 118.55 and is currently trading around 111.36. The pair recovered slightl…
CHF/JPY has broken major support at 111.50 and declined till 111.32. It has declined almost 800 pips from temporary top of 118.55 and is currently trading around 111.36.
The pair recovered slightly till 113.25 on Mar 13th 2018 and started to decline from that level. It is trading below 111.50 confirms minor weakness, a decline till 110.80/110.16 is likely.
The minor bullishness can be seen only above 112 and any break above will take the pair till 112.32 (5 day MA)/113. Any break above 113.50 confirms further bullish continuation.
It is good to sell on rallies around 111.55-60 with SL around 112.30 for the TP of 110.60/110.20.
