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 117.04.
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 116/115.50
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 117.04.
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 116/115.50
