CHF/JPY formed a strong support at 105.50 and started to
move higher. The pair broke above 200 Moving Average and for the second time found
the support at 50 Moving Average.
Fibonacci applied to corrective waves down shows that there
is very strong resistance located at 261.8% Fibs (109.20) and this could be a potential
upside target.
Consider buying CHF/JPY at the current rate (107.77),
targeting 109.20 level. The suggested stop loss is 106.90.
Support: 107.80, 107.00
Resistance: 109.20
The material has been provided by InstaForex Company – www.instaforex.com
The post Technical analysis of CHF/JPY for November 11, 2016 appeared first on forex-analytics.press.