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FxWirePro: CHF/JPY trades higher, good to buy on dips

  • Major intraday support- 115.75
     
  • The pair has shown a minor recovery of almost 90 pips after forming a bottom at 115.75. the pair jumped till 116.66 and is currently around 116.64.
     
  • The pair was trading well above hourly tenken –sen (116.47) and Kijun-Sen (116.22). Intraday weakness can be seen only below 115.75 level. Any break below will drag the pair to next level till 115.55/115.
     
  • Any hourly close above trend line resistance will take the pair to next level till 117/117.88 level.

It is good to buy on dips around 116.50 with SL around 116.20 for the TP of 117/117.88.

 

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