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Ichimoku Analysis (4-hours chart)
Tenken-Sen- 112.90
Kijun-Sen- 113.35
CHFJPY has recovered more than 100 pips from a low of 112.36 on the strong Swiss franc. USDCHF halted its minor recovery at 0.95533 and started to decline from that level. Any break below 0.9470 confirms weakness, a dip till 0.9435 likely.
The pair has shown a slight decline below the trend line and shown a jump to 113.43. Any indicative break above 113.48 (50% fib) will take the pair to 114/114.60. The next significant support to be watched is 112.50 and indicative below that level targets 112/112.60. Extreme bearish trend continuation only below 111.60.
It is good to buy on dips around 112.75-80 with SL around 112 for the TP of 114.55
