FX.co ★ Technical analysis of CHF/JPY for July 24, 2015

In continuation of my previous analysis, CHF/JPYis still holding the R1 (129.31) and in addition formed the Doji reversal candle right at that resistance level. Today, the low edge of the Doji candle has been broken signaling potential weakness that we could see soon.

Consider selling CHF/JPY today while it is near R1, targeting S2 support (126.09) area. A break above yesterday's high (129.77) should immediately change the direction of the trend to the upside.

Support: 128.09, 126.09

Resistance: 129.31, 130.30, 131.29