FxWirePro: chfjpy downside capped by 200- day ma, good to buy on dips
Source: FxWire Pro - Technicals / 06 Apr 2020 04:13:21 America/New_York
Ichimoku Analysis (Daily chart)
CHFJPY has recovered sharply more than 150 pips till 111.90. The jump was mainly due to weakness in Yen. USDJPY surged more than 200 pips from minor bottom 106.92 level.
Technically, immediate support is around 111.50 and any violation below targets 111/110.29.
The near-term resistance is at 112.20 and the indicative break above will take the pair to next level till 112.58/113/114. Significant trend continuation only if it breaks 114.
It is good to buy on dips around 111.35-40 with SL around 110.80 for the TP of 113.© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.