• Major resistance – 114.50 (200- HMA)
     
  • Major support – 113.90 (trend line joining 112.07 and 113.87).
     
  • CHF/JPY jumped till 114.28 and slightly declined from that level. The pair made a low of 113.87 yesterday and shown mild increase from the low. But upside is capped by 200 –HMA and any mild bullishness can be seen only above 200- H MA.
     
  • Any close above 200- HMA will take the pair to next level till 114.90/115.37 in the short term.
     
  • On the lower side, any break below 113.90 will drag the pair down till 113.29 (61.8% retracement of  112.07 and 115.37)/112.10.

     It is good to sell on rallies around 114.10-114.20 with SL around 114.60 for the TP of 113.30/112.10           

The material has been provided by InstaForex Company – www.instaforex.com