FxWirePro: CHFJPY forms hanging man in daily chart, good to buy on dips
Candle stick pattern - Hanging man Major support – 112.50 The pair recovered sharply after forming a bottom around 112.56. Intraday trend is slightly bullish as long as support 112.50 holds. It is currently trading aroun…
The pair recovered sharply after forming a bottom around 112.56. Intraday trend is slightly bullish as long as support 112.50 holds. It is currently trading around 113.30.
On the higher side, major resistance is around 113.88 (100- day MA) and any break above targets 114.25 (Aug 17th 2017 high)/115. Short term bearish invalidation only above 115.
The near term major support is around 112.50 and any break below will drag the pair down till 111.88 (61.8% retracement of 107.68 and 118.60)/111.
It is good to buy on dips around 113.10-113.20 with SL around 112.50 for the TP of 114.25/115.
