• FxWirePro: chfjpy struggles to close below 200-day ma, good to buy on dips

    Source: FxWire Pro - Technicals / 10 Mar 2020 08:08:39   America/New_York

    Ichimoku Analysis (Daily chart)

     

    Tenken-Sen- 111.55

     

    Kijun-Sen- 111.91

     

    As per our analysis, CHFJPY surged sharply from yesterday's low of 109.54. The jump was mainly due to a slight improvement in risk appetite has dragged yen prices down. USDJPY climbed more than 400 pips from 101.15 level.  

     

    Technically, immediate resistance is around 112.85 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 110 with SL around  109 for the TP of 112.

     

     

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