• FxWirePro: chfjpy trades weak on strong Yen, good to sell on rallies

    Source: FxWire Pro - Technicals / 29 Mar 2020 09:38:45   America/New_York

    Ichimoku Analysis (4 Hour chart)

     

    Tenken-Sen- 113.43

     

    Kijun-Sen- 112.75

     

    CHFJPY has halted its 5 days of winning streak and declined more than 80 pips from temporary top 113.99. The strength in Yen due to demand for safe-haven is putting pressure on this pair at a higher level.. USDJPY lost more than 150 pips from high 111.68 made yesterday. The bullish trend continuation only above 112.25.

     

    On the flip side, near term support around 113 and any violation below will drag the pair down till 112.25/111.50.

     

    The immediate resistance is around 114.27 (Feb 20th, 2020 high) and any indicative break above targets 115/116.

     

     It is good to buy on dips around 113.10-15 with SL around 112.50 for TP of 115.

     

     

     

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