Ichimoku Analysis (4-hour analysis)
Tenken-Sen- 110.16
Kijun-Sen- 110.57
As per our analysis, CHFJPY is trading weak for past 1-month and lost more than 400 pips on the weak Swiss franc. USDCHF recovered sharply from minor bottom 0.95921 to 98025 levels. Any minor trend continuation only above 0.9845.
Technically, near term resistance is around 110.57, and any indicative break above targets 109.95/111.70.
On the flip side, immediate support is at 109.50, and the violation below will drag the pair down till 109.05/108.49.
It is good to sell on rallies around 110 with SL around 110.57 for the TP of 108.50.
