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CHFJPY has halted its down trend after a sharp sell-off from 118.05 almost 600 pips. The pair hits low of 111.55 and shown a minor jump. It is currently trading around 112.53.
The pair is facing major resistance around 112.55-112.63 (200- day MA) and any break above will take the pair to next level till 113.70/114.80. Any break above 113.70 confirms minor bullishness.
On the lower side, near term support is around 111.50 and any violation below targets 110.70/110.
It is good to buy on dips around 112.40-45 with SL around 111.70for the TP of 114.70.
Resistance
R1- 112.65
R2 - 113.70
R3- 114.80
Support
S1- 111.50
S2- 110.70
S3- 110
