FxWirewPro: CHF/JPY faces strong resistance around 116, good to sell on rallies

• Major resistance - 116
   
• The pair has retreated after making a high of 115.93 It is currently trading around 114.97.
   
• Short term trend is weak as long as resistance 116 holds.
   
• Any break below 114 will drag the pair down till 113.50/112.35 in short term. The minor support is around 114.50/114.20.
   
• The major resistance is around 116 and break above targets 116.70/117.25.the minor resistance is around 115.25
   
• Overall bearish invalidation only above 116.

It is good to sell on rallies around 115.10-115.20 with SL around 116 for the TP of 113.50/113