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FxWirePro: Buy CHF/JPY above 116.60

  • Major Intraday Resistance – 116.60 (23.6% fibo).
     
  • CHF/JPY has formed a minor bottom at 115.62 and shown a minor jump from that level. The pair recovered almost 100 pips and is currently trading around 116.34.
     
  • The pair has broken major intraday resistance 116.30 and any break above 116.60 confirms minor bullishness.
     
  • On the lower side, near term support stands at 115.75 and any break below will drag the pair down till 115.75/115.
     
  • Bullish continuation can be seen only above 116.60 (23.6% fibo). Any break above will take the pair to next level till 116.86 (55- 4H EMA)/117.22.

It is good to buy above 116.60 with SL around 116 for the TP of 117.25/118.

 

 

 

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