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Ichimoku analysis (4 Hours chart)
Tenken-Sen - 112.61
Kijun-Sen - 112.40
CHF/JPY has formed a minor bottom around 111.55 and shown a jump of more than 100 pips from that level. It hits high of 112.95 and is currently trading around 112.82.
The pair broken minor trend line resistance around 112.63 and this confirms minor bullishness and a jump till 113.26/113.45 is possible. Any break above 113.70 confirms bullish continuation.
On the lower side, 112 will be acting as near term support and any break below minor bottom formed at 111.50 targets 110.70/110.
It is good to buy on dips around 112.45-50 with SL around 112 for the TP of 113.70.
Resistance
R1- 113
R2 - 113.48
R3- 113.70
Support
S1- 112
S2- 111.50
S3- 110.70
