FxWirePro: sell chfjpy below112.20
Source: FxWire Pro - Technicals / 10 Feb 2020 06:46:09 America/New_York
Ichimoku analysis (hourly chart)
CHFJPY continues to trade lower for 4th consecutive days and lost more than 100 pips from high of 113.09. The decline was mainly due to weak Swiss franc against all majors. USDCHF showed a massive recovery of more than 150 pips from a low of 0.96245. It is trading above 0.9766 and a jump till 0.9845 likely.
On the flip side, near-term trend line support at 112.20 and any violation below will drag the pair down till 111.70/111/110.80.
The immediate resistance is around 112.57, an indicative break above targets 113/113.37/113.90.
It is good to sell below 112.20 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.