Ichimoku Analysis (4 Hours chart)
Tenken-Sen - 113.02
Kijun-Sen- 113.44
The pair has halted its one week decline and shown a minor jump from low of 112.61. CHFJPY has taken support near trend line and any further weakness only below 112.50. It is currently trading around 113.18.
The near term major resistance is around 113.45 (200- 4H EMA) and any break above will take the pair to next level till 113.88/114.18/114.63. It should break above 114.65 for further direction.
On the lower side, any violation below 112.50 trend line support confirms bearish continuation and a dip till 112/111.55 is possible.
It is good to buy on dips around 113 with SL around 112.50 for the TP of 114.55.
