FxWirePro: CHF/JPY Faces Strong Resistance at 114.65 Good to Sell on Rallies

FxWirePro: CHF/JPY Faces Strong Resistance at 114.65 Good to Sell on Rallies

26 April 2016, 12:31
Roberto Jacobs
0
25

FxWirePro: CHF/JPY Faces Strong Resistance at 114.65 Good to Sell on Rallies

  • Major resistance – 114.70 (200 4 HMA) 
  • Major support – 113.40 
  • The pair has retreated after making a high of 114.27 yesterday. It is currently trading at 113.71. 
  • Short term trend is slightly bearish as long as resistance 114.65 holds. 
  • On the higher side any break above 114.65 will take the pair to next level  115.20 (55 day EMA)/116. 
  • Any violation below 113.40 will drag the pair till 112.80/112. 
  • Overall bullish invalidation only below 111.50.

It is good to sell on rallies around 113.85-90 with SL around 114.65 for the TP of 112.80/112

The material has been provided by InstaForex Company - www.instaforex.com



Share it with friends: