Ichimoku Analysis:
Ichimoku Analysis (weekly chart)
Tenken-Sen- 108.75
Kijun-Sen- 108.77
CHFJPY is trading higher for 3rd consecutive week and jumped more than 150 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 has lost more than 150 pips in pas t2 weeks after forming a temporary top around 1.00233. Any major weakness can be seen below 0.9835.
On the higher side, the pair has broken major resistance around 110.40 and this confirms major bullishness, a jump till 111.60/112.
The near term support is around 109.93 (55- W EMA), any break below will drag the pair down till 109.50/109.
It is good to buy on dips around 110.20-25 with SL around 109.45 for the TP of 112.
