FxWirePro: CHF/JPY faces strong resistance at 114.65 good to sell on rallies

• Major resistance – 114.70 (200 4 HMA)
   
• Major support – 113.40
   
• The pair has retreated after making a high of 114.27 yesterday. It is currently trading at 113.71.
   
• Short term trend is slightly bearish as long as resistance 114.65 holds.
   
• On the higher side any break above 114.65 will take the pair to next level  115.20 (55 day EMA)/116.
   
• Any violation below 113.40 will drag the pair till 112.80/112.
   
• Overall bullish invalidation only below 111.50.

It is good to sell on rallies around 113.85-90 with SL around 114.65 for the TP of 112.80/112