CHF/JPY breaks trend line support,decline till 120 is possible
CHF/JPY has broken trend line support around 122.40 (trend line joining 119.89 and 122.07) and declined till 121.93.
Short term trend is bearish as long as resistance 123 holds.
The pair’s major support is around 121.90 and break below will drag the pair till 121/120 in short term.
The break of 123 will confirm minor trend reversal a jump till 123.50/124 is possible .
It is good to sell on rallies around 122-122.10 with SL around 123 for the TP of 120
Short term trend is bearish as long as resistance 123 holds.
The pair’s major support is around 121.90 and break below will drag the pair till 121/120 in short term.
The break of 123 will confirm minor trend reversal a jump till 123.50/124 is possible .
It is good to sell on rallies around 122-122.10 with SL around 123 for the TP of 120