FxWirePro: CHFJPY faces strong support around 111.70, break below targets 110.90
Ichimoku Analysis (4-hour chart)
As per our analysis, CHFJPY is trading weak for 5th consecutive days and lost more than 100 pips on the weak Swiss franc. The Swiss franc is trading weak against all majors especially USD. USDCHF recovered more than 200 pips from minor bottom 0.9625.
Technically, significant support is at 111.70 and any violation below will drag the pair down till 111/110.85.
The immediate resistance is at 112.27 and indicative break beyond targets 112.60/113. Minor trend reversal higher 113.10.
It is good to sell on rallies around 112.05-10 with SL around 112.60 for the TP of 110.85.