CHF/JPY forms rounding bottom, good to buy above 113.60

• Pattern formed – Rounding bottom
   
• Major Support- 113
   
• CHF/JPY is consolidating between 113.06 and 113.61 for the past three trading session. The pair hits high of 113.61 on Nov 22nd and is currently trading around 113.53.
   
• The intraday trend is slightly bullish as long as support 113 holds. Any break below 113 will drag the pair down till 112.50/111.93 (61.8% retracement).
   
• The near term resistance is around 113.60 and any break above will take the pair to next level 113.82 114.09 (61.8% fibo)/114.35/114.70.

 It is good to buy above 113.60 with SL around 113 for the TP of 114.50/114.70.