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FxWirePro:CHF/JPY faces strong trend line support at 106.50, good to buy on dips

Monday, July 18, 2016 7:19 AM UTC

Major support – 106.50 (trend line joining 105.61 and 107.08)
The pair declined till 106.41 on Friday after making a high of 108.41. It is currently trading around 107.40.
In the hourly- chart the pair trades near to Tenkan-Sen (107.40) and Kijun-Sen (107.44).
Any violation above 107.40 will drag the pair up till 108.60/109.10 (55 H EMA).
On the lower side , resistance is at 107.15 (55 H EMA) and any indicative break below targets 106.80/106.50.

It is good to buy at dips around 107.30-35 with SL around 106.50 for the TP of 108.60/109

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FxWirePro:CHF/JPY faces strong trend line support at 106.50, good to buy on dips

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