CHFJPY is trading higher for 2nd consecutive week and jumped more than 180 pips from low of 107.92 level.The previous low was 107.61 (May 9th 2019) and almost like double bottom. Swiss franc is trading higher against all major on renewed trade tension. USDCHF has lost more than 400 pips from its high of 1.02369 due to increase in safe haven demand.It has broken high of 109.63 made on May 22nd 2019 and hits high of 109.72.It is currently trading around 109.667.
The break above resistance 109.65 and this confirms major bullishness, a jump till 110.62 (300- W EMA)/111/111.95.
On the lower side, near term support is around 109.25 (23..2% fib) and any violation below will drag the pair to next level till 108.80/108.50/108/107.60. Any major weakness only below 107.60.
It is good to buy on dips around 109.25-30 with SL around 108.80 for the TP of 110.60/111.
