FxWirePro: CHF/JPY Trade Idea

• The pair has shown a huge jump from the low of 112.50 formed on Jun 14th 2017. The pair jumped till 114.66 near to trend line resistance and shown a minor dip from that level. It is currently trading around 114.46.
   
• The major trend line resistance is around 114.73 (trend line joining 115.16 and 115.04) and any break above confirms further bullishness, a jump till 155.38/116.59 (161.8% retracement of 115.03 and 112.50).
   
• On the lower side, near term support in 4hour chart is around 113.90 (200- HMA) and any break below 113.57 (50% retracement of 114.66 and 112.50)/113.08.

It is good to sell on rallies around 114.20-114.25 with SL around 115 for the TP of 113.10/112.55.

Resistance
                   

R1-114.75
                               

R2 -115.38
 

R3- 116.59
 

Support 
  
S1-113.90

S2-113.57

S3-113.8