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FxWirePro: CHFJPY trades well above trend line resistance, targets 110.95

  • Major resistance – 109.50 (trend line joining 109.04 and 109.41).
     
  • Major intraday support – 108.85 (200- HMA).
     
  • The pair broken major resistance of 109.50 and jumped till 109.79 at the time of writing .It is currently trading around 109.78. In the hourly chart the pair is trading well above Tenken-sen and Kijun- sen.
     
  • On the higher side any break above 109.50 confirms minor bullishness, a jump till 110.98 likely.
     
  • The near term intraday support is around 109.25 (hourly Kijun-Sen) and any break below targets 108.87 (200- H MA)/108.

    It is good to buy on dips around 109.65-70 with SL around 109.25 for the TP of 110.95.
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