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Ichimoku Analysis (4-hour chart)
Tenken-Sen - 111.28
Kijun-Sen- 111.05
CHFJPY surged more than 200 pips from a low of 110.26. The jump was a mainly slight weakness in the yen. USDJPY jumped more than 500 pips from a low of 101.18 level due to rapid recovery in US markets. The pair hits a high of 112.50 and is currently trading around 112.435.
On the flip side, near term support is around 111.70 and any violation below will drag the pair down till 111.36/110.90.
The pair is holding well above trend line resistance 112.20 and a jump till 113.25-/113.60.
It is good to buy on dips around 112.40-45 with SL around 112 for the TP of 113.60.
