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FxWirePro: CHF/JPY Trade Idea

Ichimoku Analysis (Daily chart)

 

Tenken-Sen- 115.27

Kijun-Sen- 115.85

 

CHFJPY has formed almost a double bottom near 113.60 and shown a minor jump. The pair is facing minor resistance around 114.25 (55- day EMA) and any violation above targets 114.69 (23.6% fib)/115.25 (10-day MA)/115.80.

 

The near term major support is around 113.60 (89- day EMA) and any break below targets 112.75 (200- day MA). Any break below 112.75 targets 112.

 

It is good to buy on dips around 113.85-90 with SL around 113.50 for the TP of 115.

R1- 114.25
 

R2 - 114.69

R3- 115.25


Support               

 

S1- 113.60


S2- 112.75

 

S3- 112

 

 

 

 

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