FxWirePro: chfjpy breaks below 112.20, dip till 110.90 likely
Source: FxWire Pro - Technicals / 11 Feb 2020 09:08:36 America/New_York
Ichimoku analysis (hourly chart)
CHFJPY continues to trade lower after a minor pullback till 112.50. The decline was mainly due to weak Swiss franc against all majors. USDCHF recovered sharply after forming a bottom at 0.96245. It hits a high of 0.9788 and a jump till 0.9845 possible.
On the flip side, the pair is trading below trend line support at 112.20 and a dip till 111.70/111/110.80 likely.
The immediate resistance is around 112.57 (200- 4H MA), an indicative break above targets 113/113.37/113.90.
It is good to sell on rallies around 112.25-30 with SL around 112.60 for the TP of 110.90.© 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.