FxWirePro: CHF/JPY Faces Strong Support at 112.80, Good to Buy at Dips

FxWirePro: CHF/JPY Faces Strong Support at 112.80, Good to Buy at Dips

• Major resistance – 114 
• Major support – 112.80 
• The pair has made a slightly recovered till 113.47 at the time of writing  after making a low of 112.80 yesterday. It is currently trading at 113.42. 
• Short term trend is slightly bullish as long as support 112.80 (Tenken-Sen) holds. 
• On the higher side any break above 114 will take the pair to next level 114.45 (Kijun-Sen)/115.20 (55 day EMA)/116. 
• Any violation below 112.80 will drag the pair till 112/111.49 (18th Apr 2016 Low). 
• Overall bullish invalidation only below 111.50.
  

It is good to buy at dips around 113.40 with SL around 112.80 for the TP of 115.20/116

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