FxWirePro: CHF/JPY faces strong resistance at 112, good to sell on rallies
Major Resistance – 112 The pair has retreated after making a high of 111.63.It is currently trading around 110.73. On the lower side major support is around 110.50 and any break below 110.50 will drag the pair down till …
The pair has retreated after making a high of 111.63.It is currently trading around 110.73.
On the lower side major support is around 110.50 and any break below 110.50 will drag the pair down till 110.20/109.80/l 108.90 (161.8% retracement of 110.203 and 112.32)/108.
On the higher side major resistance is around 112 and any violation above will take the pair till 112.32/112.75.
Overall bearish invalidation only above 112.75.
It is good to sell on rallies 111 with SL around 112 for the TP of 109.80/108.85
