FxWirePro: CHFJPY forms Bearish Gartley pattern, good to sell on rallies

Harmonic pattern- Bearish Gartley pattern

Potential Reversal Zone(PRZ)- 111.95

CHFJPY has halted its 2 day of uptrend and lost nearly 30 pips from high of 111.74. The pair hits intraday low of 111.42 and is currently trading around 111.489.

The near term resistance is around 111.95 high made on Mar 20th and any break above targets 112.20/112.60.

On the lower side, minor support stands around 111.40 and any violation below will take the pair to next level till 111.15/110.96 (61.8% fib)/110.48. Any major weakness only below 110.45.

It is good to sell on rallies around 111.55-60 with SL around 111.95 for the TP of 110.50.