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- Major support – 113.90
- CHJPY has slightly recovered till 114.73 after hitting low of 113.95 yesterday. Short term trend is still weak as long as resistance 115.38 holds. It is currently trading around 113.99.
- Any break below 113.90 will drag the pair down till 113.61 (61.8% retracement of 112.56 and 115.38)/113. Short term bearish continuation only below 112.50.
- On the higher side, minor resistance is around 114.78 (61.8% retracement of 115.38 and 113.95) and any above that level will take the pair till 115/115.32 (Aug 30th low)/115.66/116.
It is good to sell below 114-114.10 with SL around 114.78 for the TP of 113/112.58.
