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Ichimoku analysis (Daily Chart)
Tenken-Sen - 114.43
Kijun-Sen - 115.48
CHF/JPY has declined more than 400 pips from the high of 118.06 level. The pair hits low of 112.77 and shown a minor recovery. It is currently trading around 113.35.
The near term resistance is around 113.60 (89- day EMA) and any break above targets 114.15 (55- day EMA)/114.80 (38.2% fib).
On the lower side , major support is around 112.75 (200- day MA) and any break below will take the pair further down till 112/111.32.
It is good to buy on dips around 113 with SL around 112.75 for the TP of 115
