Ichimoku Analysis (Hourly chart)
Tenken-Sen- 113.28
Kijun-Sen- 113.48
CHFJPY has halted its 3-week of winning streak and lost more than 100 pips. The decline was mainly due to a slight recovery in yen on increasing demand for Safe-haven assets. The geopolitical tensions and coronavirus is preventing CHFJPY from further gains. It hits Intraday low of 113.03 and is currently trading around 113.265.
Technically, near-term support is around 113 and any indicative break below will drag the pair down till 112.50/112.20.
The immediate resistance is at 113.75, violation above will take the pair till 114/114.50.
It is good to sell on rallies around 113.45-50 with SL around 114 for the TP of 112.20.
