FxWirePro: CHF/JPY trades below major support 111.50, dip till 110.20 likely

• Major Support – 111.50.
   
• CHF/JPY has broken major support at 111.50 and declined till 111.32. It has declined almost 800 pips from temporary top of 118.55 and is currently trading around 111.36.
   
• The pair recovered slightly till 113.25 on Mar 13th 2018 and started to decline from that level. It is trading below 111.50 confirms minor weakness, a decline till 110.80/110.16 is likely.
   
• The minor bullishness can be seen only above 112 and any break above will take the pair till 112.32 (5 day MA)/113. Any break above 113.50 confirms further bullish continuation.

It is good to sell on rallies around 111.55-60 with SL around 112.30 for the TP of 110.60/110.20.