CHF/JPY: Double bottom and trend line break out (Chart of day)
Major intraday support- 115.75
Chart pattern – Double bottom
The pair has shown a minor recovery after forming a bottom at 115.75. It broke trend line resistance at 116.28 and jumped till 116.39. It is currently around 116.34.
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 116.20 with SL around 115.75 for the TP of 117/117.88.
Chart pattern – Double bottom
The pair has shown a minor recovery after forming a bottom at 115.75. It broke trend line resistance at 116.28 and jumped till 116.39. It is currently around 116.34.
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 116.20 with SL around 115.75 for the TP of 117/117.88.
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Target achieved