Ichimoku analysis (hourly chart)
Tenken-Sen- 112.31
Kijun-Sen- 112.46
CHFJPY continues to trade lower for 4th consecutive days and lost more than 100 pips from high of 113.09. The decline was mainly due to weak Swiss franc against all majors. USDCHF showed a massive recovery of more than 150 pips from a low of 0.96245. It is trading above 0.9766 and a jump till 0.9845 likely.
On the flip side, near-term trend line support at 112.20 and any violation below will drag the pair down till 111.70/111/110.80.
The immediate resistance is around 112.57, an indicative break above targets 113/113.37/113.90.
It is good to sell below 112.20 with SL around 112.60 for the TP of 110.90.
