CHF/JPY Faces Strong Resistance at 114.65, Break Above Targets 115.20/116
- Major resistance – 114.65 (200 4 HMA)
- Major support – 113.40
- The pair has broken minor resistance 114.27 and jumped till 114.59. It is currently trading at 114.59.
- Short term trend is slightly bullish as long as support 113.40 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.The minor support is around 114.
- Overall bullish invalidation only below 111.50.
It is good to buy at dips around 114.50 with SL around 114 for the TP of 115.20/116
The material has been provided by InstaForex Company - www.instaforex.com