CHF/JPY takes support near 100 day MA, good to buy on dips
Major support - 111.15 (100- day MA)
CHFJPY has lost almost 200 pips from the high of 113.18 made on Jul 31st 2018. It is almost like double top and any further major reversal only above that level.
The pair has taken support near trend line, 100- day MA and shown a minor jump. So any major weakness can be seen only below 111.15. Any violation below targets 110.43/110.
On the higher side, near term resistance is around 112.10 and any break above will take the CHFJPY to next level at 112.72 (200- day MA).
It is good to buy on dips around 111.25-30 with SL around 111 for the TP of 112.10/112.70.
CHFJPY has lost almost 200 pips from the high of 113.18 made on Jul 31st 2018. It is almost like double top and any further major reversal only above that level.
The pair has taken support near trend line, 100- day MA and shown a minor jump. So any major weakness can be seen only below 111.15. Any violation below targets 110.43/110.
On the higher side, near term resistance is around 112.10 and any break above will take the CHFJPY to next level at 112.72 (200- day MA).
It is good to buy on dips around 111.25-30 with SL around 111 for the TP of 112.10/112.70.