Ichimoku Analysis (4 Hour chart)
Tenken-Sen- 109.65
Kijun-Sen- 109.623
As per our analysis, CHFJPY is trading higher and surged more than 150 pips on strong Swiss Franc.due to a slight increase in demand for Safe-haven assets. USDCHF lost more than 100 pips from high 0.97825 and is currently trading around 0.97204.
The pair is facing powerful resistance at 110.27 (100-4H MA) and hourly close beyond that level confirms further bullishness. A jump till 111/111.50 is possible. The decline from 113.99 will end at 108.67 only if it breaks 111.52. The immediate support stands at 110 and breaks below will drag the pair down till 109.50/109.30.
It is good to buy on dips around 110.05-10 with SL around 109.50 for the TP of 111.50.
