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

• 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

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