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Short

CHF/JPY struggles to break above trend line resistance,go short

FX:CHFJPY   Swiss Franc / Japanese Yen
108 0 7
The pair has shown a huge jump from the low of 112.50 formed on Jun 14th 2017. The pair jumped till 114.66 near to trend line resistance and shown a minor dip from that level. It is currently trading around 114.11.

The major trend line resistance is around 114.73 ( trend line joining 115.16 and 115.04) and any break above confirms further bullishness, a jump till 155.38/116.59 (161.8% retracement of 115.03 and 112.50).

On the lower side, near term support in 4hour chart is around 113.90 (200- HMA ) and any break below 113.57 ( 50% retracement of 114.66 and 112.50)/113.08.

It is good to sell on rallies around 114.20-114.25 with SL around 115 for the TP of 113.10/112.55.

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