Currently, the CHF/JPY is touching its long term bearish trend line, which is pointing to a bounce of the dynamic resistance line and to move lower. This presents an interesting opportunity as the CHF/JPY likes to push up and then retract just as easily before ranging lower towards its bullish daily long term trend line.
With news out of Japan and Switzerland relatively light, it's unlikely we will see fundamental moves take precedence in this climate, and instead technicals are likely to be in control and play out best for the CHF/JPYpair.
Overall, strong signals are pointing to a move lower, and markets will want to take advantage of the outcomes of technical movements for the Yen, especially the clear trend line crossing with the fib level to provide a level of heavy resistance, helping to push the pair lower.
Technically the CHF/JPY pair is turning down from out major resistance level of 117 zone and again a really good opportunity for trader to short this pair at the 117 resistance zone with high risk to reward moves. This pair is turning down till the next minor support of 115.80 zone and we can expect price to move higher from the 115.80 level. A good opportunity for traders to scale in for some good moves at the 115.80 support level.