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Ichimoku Analysis (hourly chart)
Tenken-Sen- 112.11
Kijun-Sen- 112.30
As per our analysis, CHFJPY declined sharply after a minor jump to 112.84. The overall trend is weak as long as resistance 113 holds. The jump was mainly due to strength in the Swiss franc, especially against USD. USDCHF hits low of 0.95159 yesterday from minor top around 0.98431.
Technically, the pair is facing immediate resistance at 112.40 and the break beyond will take the pair to next level till 112.85/113.
On the flip side, immediate support is around 111.70 and any violation beneath targets 111.35/110.95.
It is good to sell on rallies around 113 with SL around 113.40 for the TP of 112.
