FxWirePro
Long

CHF/JPY: Bearish Divergence and Oversold

FX:CHFJPY   Schweizer Franken/Japanischer Yen
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CHFJPY             continuing its losing streak for the past one month after hitting the high of 114.30 on Mar 14th 2017. The pair has broken major support 200- day MA at 109 and declined till 107.68 at the time of writing. It is currently trading around 107.92.

The pair is the oversold territory ( RSI –around 20) level and MACD ( Bearish divergence) . So a minor jump till 109.15 (7- day MA) likely.
JPY is trading against all major pairs on account of geopolitical tensions in North Korea.

On the lower side, near term support is around 106.99 ( 61.8% retracement of 101.73 and 115.51) and any break below will drag the pair down till 104.

It is good to buy on dips around 107.75-80 with SL around 106.99 for the TP of 109.15/110.
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