Ichimoku Analysis (1 Hour chart)
Tenken-Sen- 112.406
Kijun-Sen- 111.99
CHFJPY has started to recover after hitting a low of 111.77 level. The slight recovery was due to the weak yen. USDJPY is trading higher for past 1-week and jumped more than 850 pips.
On the flip side, near term support around 111.68 (200-H MA) and any violation below will drag the pair down till 110.97/110.25/109.54.
The immediate resistance is around 112.87 and the indicative break above targets 113.20/113.71.
It is good to sell on rallies around 112.25-30 with SL around 112.80 for TP of 111.
