FxWirePro: CHFJPY breaks major resistance 114.30, jump till 115.50 likely
CHF/JPY broken the previous high of 114.31 made on May 8th 2017 and jumped till 114.67 at the time of writing. It is currently trading around 114.67. The pair short term trend is bullish and is expected to reach 115.50 i…
CHF/JPY broken the previous high of 114.31 made on May 8th 2017 and jumped till 114.67 at the time of writing. It is currently trading around 114.67.
The pair short term trend is bullish and is expected to reach 115.50 in the short term as the long as support 112.50 holds. Bullish continuation can be seen above 115.50 level. Any break above 115.50 will take the pair to next level till 117.30.
On the lower side, near term minor support is around 113.65 (4H Kijun-Sen) and any break below will drag the pair till 113.20 (55 4H EMA)/112.65 (100 4H EMA).
It is good to buy on dips around 114.20 with SL around 113.60 for the TP of 115.50/117.25.
