Ichimoku (Hourly chart)
Tenken-Sen- 107.79
Kijun-Sen- 107.93
CHFJPY is trading lower for 2nd consecutive days after a minor recovery till 108.28. The easing of the US-China trade war was one of the major reasons for pair decline. It hits an intraday low of 107.58 and is currently trading around 107.609.
On the flip side, the near term major support is 107.50 and any violation below confirms major weakness and a decline till 103.98/106.25.
The near term resistance for the pair is around 108.40 (38.2% fib) and any minor jump can be seen only above that level. Any break above targets 108.95/109.65.
It is good to buy on dips around 107.50 with SL around 107 for the TP of 108.50/108.95.
