FxWirePro: CHF/JPY faces strong resistance at 114.20, good to sell on rallies

• Major resistance - 114.20 (55 day 4 H EMA)
  
  
• The pair has made a high of 113.89 and started to decline from that level.  It is currently trading around 113.12.
  
  
• Short term trend is still weak as long as resistance 114.20 holds.
  
  
• Any break above 114.20 will take the pair till 115/116.35.
  
  
• On the lower side major support is around 112.20 and break below targets 111.80/111.25.

It is good to sell on rallies around 113.50 with SL around 114.20 for the TP of 111.25.