FxWirePro: chfjpy takes support near 200- day ma, break below targets 110
Source: FxWire Pro - Technicals / 01 Apr 2020 08:25:14 America/New_York
Ichimoku Analysis (Daily chart)
CHFJPY is trading lower for 5th consecutive days and declined more than 250 pips. The pair has formed a temporary top around 113.99 and started to decline. The strength in JPY especially against USD is supporting this pair at lower levels. USDJPY lost more than 250 pips from a high of 111.68.
On the flip side, near term support around 111.16 (200-day MA) and any violation below will drag the pair down till 110.40/109.50.
The immediate resistance is around 111.86 and any indicative break above targets 112.33/113.
It is good to sell on rallies around 111.85-90 with SL around 112.50 for TP of 110.20.© 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.