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CHFJPY has shown minor recovery till 117.17 after hitting a low of 116.71. The pair has shown a jump of more than 200 pips 118.06 and declined more than 100 pips. It is currently trading around 116.93.
On the lower side, near term support stands around 116.45 (55- 4H MA) and any violation below will drag the pair down till 115.97/115.60 (200- 4H MA). The pair should close below 115.60 for further weakness.
The near term major resistance is around 117.55 and any violation above will take the pair to next level till 118.06/118.60/119.
It is good to sell on rallies around 117-117.10 with SL around 117.60 for the TP of 115.80.
