FxWirePro: CHF/JPY upside capped by major resistance at 115, good to sell on rallies
CHF/JPY formed a minor bottom at 113.41 and showed a minor recovery from that level. The pair has made a high of 114.79 and is currently trading around 113.95. The minor top is around 115 and any intraday bullishness can…
CHF/JPY formed a minor bottom at 113.41 and showed a minor recovery from that level. The pair has made a high of 114.79 and is currently trading around 113.95.
The minor top is around 115 and any intraday bullishness can be seen above that level. Any break above will take the pair till 115.55 (89- 4H EMA)/116 (61.8% retracement of 118.60 and 113.41).
On the lower side, near term major support is around 113.69 (100- day MA) and any close below will take the pair down till 113/112.50 (Jun 15th 2017).
It is good to sell on rallies around 114.30-35 with SL around 115 for the TP of 112.50.
