Ichimoku Analysis (4 Hour chart)
Tenken-Sen- 112.28
Kijun-Sen- 112.50
CHFJPY has recovered sharply from a low of 111.76 level. It hits an intraday high of 112.625 and is currently trading around 112.53. The jump was mainly due to strong Swiss franc, especially against USD. The pair hits 1-year low at 0.93650.
Technically, immediate resistance is around 112.80 and any violation above will take the pair to the next level till 113.25/113.55. Bullish continuation only if pair breaks 114.25.
On the flip side, near term support is at 111.75 and any break below targets 111.35/110.90.
It is good to buy above 112.65 with SL around 112.30 for the TP of 113.55.
