Ichimoku Analysis (4 Hour chart)
Tenken-Sen- 111.35
Kijun-Sen- 111.23
CHFJPY is trading higher for 3rd consecutive day and jumped more than 150 pips. The jump was mainly due to mild strength in Swiss franc. USDCHF lost nearly 70 pips from high of 0.97973 and any violation below 0.9720 confirms minor weakness.
Technically, immediate support is around 111.74 and any violation below targets 111.50/111.18.
The near-term resistance is at 112.20 and the indicative break above will take the pair to next level till 112.58/113/114. Significant trend continuation only if it breaks 114.
It is good to buy on dips around 111.70-75 with SL around 111.18 for the TP of 113.
