CHF/JPY Trade Idea

CHF/JPY Trade Idea

27 April 2016, 14:24
Roberto Jacobs
0
14

CHF/JPY Trade Idea

  • 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.

Resistance: R1-114.65, R2-115.20, R3-116  Support: S1-114, S2-113.40, S3-112.80

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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