• FxWirePro: chfjpy daily outlook

    Source: FxWire Pro - Technicals / 15 Mar 2020 10:28:17   America/New_York

    Ichimoku Analysis (4-hour chart)

     

    Tenken-Sen- 111.36

     

    Kijun-Sen- 111.20

     

    CHFJPY is trading in narrow range between 110.97 and 112.417 for past two trading days. The pair lost more than 450 pips in past 2-week on strong yen. USDJPY showed a major sell-off from recent high and declined more than 1100 pips.

    Technically, immediate resistance is around 112.50 and any violation above will take the pair to the next level till 113.25/113.60.

     

    On the flip side, near term support is at 111.70 and any break below targets 111/110/109.50.

     

    It is good to buy on dips around 111.65.70 with SL around  111 for the TP of 113.25.

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