Ichimoku Analysis (1 Hour chart)
Tenken-Sen- 112.53
Kijun-Sen- 112.54
CHFJPY has recovered sharply after taking near trend line. The sudden weakness in Yen due to short covering has supported pair at lower levels. USDJPY surged more than 150 pips for the day.
On the flip side, near term support around 111.50 and any violation below will drag the pair down till 110.90/110.
The immediate resistance is around 112.25 and the indicative break above targets 122.87/113.20/113.71/114.25.
It is good to buy on dips around 112.55-60 with SL around 112 for TP of 114.25.
