Ichimoku Analysis (hourly chart)
Tenken-Sen- 112.84
Kijun-Sen- 112.53
CHFJPY recovered sharply after forming a minor bottom around 111.35. The jump was mainly due to strength in the Swiss franc, especially against USD. USDCHF lost more than 300 pips in the past 10 trading days after forming a minor top around 0.98431.
Technically, the pair is facing powerful resistance at 113.15 and hourly close above will take the pair to next level till 113.37/113.60.
On the flip side, immediate support is around 112.36 and any violation beneath targets 112/111.35.
It is good to sell on rallies around 113 with SL around 113.40 for the TP of 112.
