FxWirePro: sell chfjpy on rallies
Source: FxWire Pro - Technicals / 05 Apr 2020 11:03:17 America/New_York
Ichimoku Analysis (4 Hour chart)
CHFJPY has recovered slightly after 5 days of a bearish trend. The pair lost more than 350 pips from a high of 113.99 on account of the weak Swiss franc. USDCHF surged more than 200 pips from minor bottom 0.9500 level.
Technically, immediate support is around 110 and any violation below targets 109.50/108.78.
The near-term resistance is at 111.20 and the indicative break above will take the pair to next level till 111.71/112.25. Significant trend continuation only if it breaks 114.
It is good to sell on rallies around 111.35-40 with SL around 112 for the TP of 110.© 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.