CHF/JPY struggles to break above 116, decline till 113.50 is possible

• Major support  - 115.25 ( trend line joining 111.88 and 113.18)
   
• The pair has retreated after making a high of 115.92. It is currently trading around 115.04.
   
• The pair has broken major support 115.25 and declined till 114.92.
   
• Short term trend is weak as long as resistance 116 holds.
   
• Any break below 115.25 will drag the pair down till 114.30/113.50 in short term.
   
• The major resistance is around 116 and break above targets 116.70/117.25.
   
• Overall bearish invalidation only above 116.

It is good to sell on rallies around 115.10-115.20 with SL around 116 for the TP of 113.50/113