• 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)

     

    Tenken-Sen- 112.737

     

    Kijun-Sen- 111.77

     

    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.

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