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Ichimoku Analysis (4-hours chart)
Tenken-Sen- 112.92
Kijun-Sen- 113.04
CHFJPY has recovered once again after a minor decline below 113 levels. The slight in Swiss franc due to an increase in demand for Safe-haven assets. USDCHF is struggling to close above 0.9500 and any break below 0.9460 confirms weakness, a dip till 0.9370 likely.
The pair is consolidating in a narrow range between 112.36 and 113.43 in the past 2 trading days. Any indicative break above 113.50 (trend line resistance) will take the pair to 114/114.60. The next significant support to be watched is 112.50 and indicative below that level targets 112/112.60. Extreme bearish trend continuation only below 111.60.
It is good to buy above 113.50 with SL around 113 for the TP of 114.55
