CHF/JPY Faces Strong Resistance at 114.65, Break Above Targets 115.20/116

CHF/JPY Faces Strong Resistance at 114.65, Break Above Targets 115.20/116

27 April 2016, 13:47
Roberto Jacobs
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CHF/JPY Faces Strong Resistance at 114.65, Break Above Targets 115.20/116

  • Major resistance – 114.65 (200 4 HMA) 
  • Major support – 113.40 
  • The pair has broken minor resistance 114.27 and jumped till 114.59. It is currently trading at 114.59. 
  • Short term trend is slightly bullish as long as support 113.40 holds. 
  • On the higher side any break above 114.65 will take the pair to next level 115.20 (55 day EMA)/116. 
  • Any violation below 113.40 will drag the pair till 112.80/112.The minor support is around 114. 
  • Overall bullish invalidation only below 111.50.

It is good to buy at dips around 114.50 with SL around 114 for the TP of 115.20/116

The material has been provided by InstaForex Company - www.instaforex.com



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