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- Candlestick pattern formed – Shooting star (4 hour chart).
- The pair is declining sharply after hitting a high of 118.60 at Jul 10th 2017. CHF/JPY declined till 116.43 on Jul 14th 2017 and is currently trading around 117.07.
- Technically the pair is facing major support around 117 (4H 89 EMA) and any break below will drag the pair till 116.40till 117.30/116.22 (100- 4H MA).
- On the higher side, 117.60 will be acting as minor resistance and any break above will take the pair till 118/118.60. Any break above will take the pair till 119.25.
It is good to sell on rallies around 117.25-117.30 with SL around 118.60 for the TP of 117.80/117.30
