CHF/JPY Trades Well Above 105, Jump Till 106.56/107.60 Is Possible

CHF/JPY Trades Well Above 105, Jump Till 106.56/107.60 Is Possible

30 June 2016, 13:39
Roberto Jacobs
0
7

CHF/JPY Trades Well Above 105, Jump Till 106.56/107.60 Is Possible

  • Major resistance – 105.10 (3 day EMA) 
  • Major support – 103.50  
  • The pair has broken major resistance 105.10 and jumped till made a high of 105.48 at the time of writing. It is currently trading around 105.37 
  • CHF/JPY’s major resistance is around 105.10 (3 day EMA) and any break above indicates slight bullishness. Any indicative break above 105.10 will take the pair to next level till 106.56 (daily Tenken-Sen)/107.69 (61.8% retracement of 111.40 and 101.73). 
  • On the lower side, major support is around 104 and any break below targets 103.50/101.75/100.63/99.38 (161.8% retracement of 101.73 and 105.18).

It is good to buy at dips around 105.20-25 with SL around 104 for the TP of 106.56/107.69.

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