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Major support- 112.65 (trend line support and 200 day MA)
CHF/JPY has taken support near 200- day MA and trend line support and recovered more than 50 pips. The pair hits high of 113.41 and is currently trading around 113.11.
The near term resistance is around 113.52 (89- day EMA) and any break above targets 113.95 (55- day EMA)/114.57 (20- day MA).
On the lower side, major support is around 112.65 and any violation confirms bearish continuation, a decline till 112/110.90is possible.
It is good to buy on dips around 112.60-65 with SL around 112 for the TP of 114.
