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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