Ichimoku Analysis (8 Hour chart)
Tenken-Sen- 112.15
Kijun-Sen- 112.815
CHFJPY continues to trade weak for 2-weeks and lost more than 250 pips. The coronavirus has spread to 16 countries and almost 170 people died in China. Investors are scared and buying Safe-haven assets like yen, gold. It hits an Intraday low of 111.96 and is currently trading around 111.97.
USDCHF has shown a minor jump till 0.97447, any violation above 0.9765 will take the pair to next level till 0.9845.
Technically, near-term support is around 111.70 and any indicative break below will drag the pair down till 111.24/110.89 (Jan 5th low).
The immediate resistance is at 112.15, the violation above will take the pair till 112.62/113.06.
It is good to sell on rallies around 112.15-20 with SL around 112.65 for the TP of 110.90.
