Ichimoku Analysis (4-hour analysis)
Tenken-Sen- 111.17
Kijun-Sen- 111.97
CHFJPY is trading lower for 10 trading days and lost more than 150 pips on the weak Swiss franc. USDCHF raised nearly 200 pips from low 0.9590 levels. Short term trend is weak as long as resistance 111.20 holds.
Technically, near term resistance is around 110.55, and any indicative break above targets 111.20/111.65.
On the flip side, immediate support is at 110, and violation below will drag the pair down till 109.54 (Mar 9th low). Further bearish continuation only if it breaks 109.50.
It is good to sell on rallies around 110.40-45 with SL around 111 for the TP of 109.54.
