FxWirePro: CHFJPY trade above trend line resistance, jump till 111.40 likely

Ichimoku Analysis (4-hour analysis)

Tenken-Sen- 110.18

Kijun-Sen- 110.06

CHFJPY has halted its 1- month of the bearish trend and shown a more than 150 pips jump on strong Swiss Franc. USDCHF is trading weak and lost nearly 100 pips for the day and hits low of 0.96386.

Technically, near term resistance is around 111, and any indicative break above targets 111.39/112. On the flip side, the immediate support is around 110.50, and the break below will drag the pair down till 110/109.50.

It is good to buy on dips around 110.40-45 with SL around 110 for the TP of 111.40.