CHF/JPY forms rounding bottom, good to buy above 113.60
Pattern formed – Rounding bottom
Major Support- 113
CHF/JPY is consolidating between 113.06 and 113.61 for the past three trading session. The pair hits high of 113.61 on Nov 22nd and is currently trading around 113.53.
The intraday trend is slightly bullish as long as support 113 holds. Any break below 113 will drag the pair down till 112.50/111.93 (61.8% retracement).
The near term resistance is around 113.60 and any break above will take the pair to next level 113.82 114.09 (61.8% fibo)/114.35/114.70.
It is good to buy above 113.60 with SL around 113 for the TP of 114.50/114.70.
Major Support- 113
CHF/JPY is consolidating between 113.06 and 113.61 for the past three trading session. The pair hits high of 113.61 on Nov 22nd and is currently trading around 113.53.
The intraday trend is slightly bullish as long as support 113 holds. Any break below 113 will drag the pair down till 112.50/111.93 (61.8% retracement).
The near term resistance is around 113.60 and any break above will take the pair to next level 113.82 114.09 (61.8% fibo)/114.35/114.70.
It is good to buy above 113.60 with SL around 113 for the TP of 114.50/114.70.