CHF/JPY Trade Idea

• Major resistance- 105.30 (200 – 4H MA).
   
• Major support – 104.30 (trend line joining 103.27 and 103.72).
   
• CHFJPY is facing strong resistance around 105.30 (200- 4H MA) and any slight bullishness can be seen only above that level. It is currently trading around 104.38.
   
• On the lower side major support is around 104.30 and any break below targets 103.69/103.25/102.07 (Jul 8th 2016 low).
   
• Any break above major short-term resistance will take the pair till   106/107.80.

It is good to sell on rallies around 104.80 with SL around 105.30 for the TP of 103.27/102.10

Resistance

R1- 105.30

 R2-106

 R3-107.80

Support

S1-104.30

S2-103.69

S3-103.25