Ichimoku Analysis (4 Hour chart)
Tenken-Sen- 110.48
Kijun-Sen- 109.79
CHFJPY is trading higher for 5th consecutive days and jumped more than 150 pips on strong Swiss Franc. USDCHF lost more than 100 pips from minor top 0.98025 and is currently trading around 0.96810.
The pair is facing strong resistance at 111 (200-4H MA) and hourly close above that level confirms bullish continuation. A jump till 111.50/112.52 is possible. The decline from 113.99 will end at 108.67 only if it breaks 111.52. The immediate support stands at 110.20 (100-4H MA) and breaks below will drag the pair down till 110/109.50/109.30.
It is good to buy on dips around 110.55-60 with SL around 110.20 for the TP of 111.50.
