CHFJPY is trading weak for fourth consecutive week and has lost more than 600 pips from the peak. It hits low of 112.17 and is currently trading 112.58.
Short term trend is bearish as long as resistance 113.85-114 holds. The pair has closed below 200 day MA and is trading below trend line support at 112.55. This confirms minor weakness and a decline till 110.50 is possible.
The near term resistance is around 112.67 (200-day MA) and any break above targets 113/113.85 (55- day EMA)/114 (20- day MA).
It is good to sell on rallies around 112.65-70 with SL around 113.50 for the TP of 110.50.
