FxWirePro: Buy CHFJPY on dips

Ichimoku Analysis (4-hour chart)

Tenken-Sen- 1.18278

Kijun-Sen- 1.18278

EURUSD has gained more than 80 pips after the European Central bank monetary policy. The ECB has kept its rate on the main marginal refinancing operations and on the marginal lending facility as expected. The optimistic view on the economy has lifted EURO above the 1.1900 level. The number of people who have filed for unemployment benefits in the US in the week of Aug 30th to Sep 5th came flat at 884000 compared to a forecast of 838K. The pair hits an intraday high of 1.17863 and is currently trading around 1.17919.

The 4-hour chart shows that the pair is trading slightly below 200 MA at 1.17963 and any close below targets 1.17550/1.16900.

On the higher side, strong resistance is at 1.1870, and the break below will take the pair to the next level till 1.1925/1.1965/1.1200.

It is good to buy on dips around 1.1850-870 with SL around 1.1830 for the TP of 1.200