Ichimoku Analysis:
Ichimoku Analysis (Hourly chart)
Tenken-Sen- 110.45
Kijun-Sen- 110.37
CHFJPY has shown a minor decline till 110.18 after forming the top at 110.56. It is trading higher for the 4th consecutive day and jumped more than 100 pips. The jump was mainly due to strong Swiss franc on a slight increase in demand for Safe-haven assets. The pair hits a high of 110.56 and is currently trading around 110.37.
USDCHF is on the downside for the past 4 days and has lost more than 100 pips. The overall trend is still weak as long as resistance 1.0030.
On the higher side, the pair is facing strong endurance around 110.60 and any indicative break beyond will take the pair to next level 111/111.60/112.
The near term support is around 110 ( 200 - H MA), any break beneath will drag the pair down till 109.50/109.
It is good to buy on dips around 110.35-40 with SL around 110 for the TP of 112.
