• FxWirePro: buy chfjpy on dips

    Source: FxWire Pro - Technicals / 16 Mar 2020 06:46:46   America/New_York

    Ichimoku Analysis (4-hour chart)

     

    Tenken-Sen- 112.16

     

    Kijun-Sen- 111.93

     

    CHFJPY has shown a minor recovery from a low of 111.66 on the strong Swiss franc. The jump was due to strong Swiss franc, especially against USD. USDCHF lost more than 150 pips after a minor jump till 0.95675 and is currently trading around 0.94192.

     

    On the flip side, near-term support is around 112 and any violation below targets 111.65/110.90.

     

    The immediate resistance is at 113.25 and the indicative break above will take the pair to next level till 113.75/114.30.

     

    It is good to buy on dips around 112.55-60 with SL around 112 for the TP of 113.60.

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