Complete change of technical analysis on / JPY CHF pair. For two months now, the / CHF JPY pair actually fits in a medium term bullish channel (black lines). A central line is to serve as support (dashed line) after the course have tested 105 support. Currently the pair is testing key resistance at 106.06.
We advise to trade only long positions (buying) as 105.50 is support. In the short term, the recent break of bearish slant (blue dotted line) reinforces our bullish sentiment. The validation of the break of 106.06 would provide an important new buy signal. The course would then join its highest in July to 106.95.
In case of return below 105.50, we advise you to stay flat (neutral) between this level and 105
