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Major resistance- 113.25.
The pair has declined once again after showing a minor jump above 113. The pair hits high of 113.17 and declined almost 80 pips from that level.
CH/JPY is trading weak and has closed slightly below ichimoku cloud and this confirms minor weakness a dip till 111.50 is possible. The near term support is around 112.10 (220- H MA) and any break below targets 111.50/111.
The near term resistance is around 112.56-112.60 (55- and 34 H EMA) and any break above will take the pair till 113/113.20. Any minor trend reversal only above 113.25.
It is good to sell on rallies around 112.35-40 with SL around 112.80 for the TP of 111.50/111.
