• FxWirePro: chfjpy takes support near trend line, jump till 114 likely

    Source: FxWire Pro - Technicals / 30 Mar 2020 04:14:42   America/New_York

    Ichimoku Analysis (1 Hour chart)

     

    Tenken-Sen- 112.82

     

    Kijun-Sen- 112.96

     

    CHFJPY has taken support near the trend line and jumped more than 60 pips. The pair has formed a temporary top around 113.94 and declined more than 100 pips. The strength in Swiss franc especially against USD is supporting this pair at lower levels. USDCHF lost more than 350 pips from a high of 0.99017.

     

    On the flip side, near term support around 112.70 and any violation below will drag the pair down till 112.25/111.50.

     

    The immediate resistance is around 113.20 and any indicative break above targets 115/116.

     

     It is good to buy on dips around 11 with SL around 114 for TP of 111.50.

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