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Ichimoku Analysis (1-hour chart)
Tenken-Sen- 113.35
Kijun-Sen- 113.30
CHFJPY has once again recovered after showing a minor decline below the 113 level. The slight recovery in the US dollar against Swiss franc due to broad-based US dollar buying. The demand for Safe-haven assets like dollar gained strength total number cases crossed 2 million and over 1 lakh people died. USDCHF surged more than 100 pips from a low of 0.93710. It is currently trading around 0.94969.
The pair is hovering near 200- H MA, any indicative break 113.27 will take the pair to next level till 112.85/112.50. The next major resistance to be watched is 114 and break above that level targets 114.60/115. Extreme bullish trend continuation only above 114.60.
It is good to buy on dips around 113 with SL around 112.50 for the TP of 114.55
