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Long

CHF/JPY trades above 105,jump till 106.56/107.60 is possible

FX:CHFJPY   Swiss Franc / Japanese Yen
78 0 5
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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