• FxWirePro: sell chfjpy on rallies

    Source: FxWire Pro - Technicals / 13 Feb 2020 06:29:56   America/New_York

    Ichimoku analysis (4 -hour chart)

     

    Tenken-Sen- 112.60

     

    Kijun-Sen- 112.53

    CHFJPY is trading weak after a minor pullback to 112.91 level. The overall trend is still weak as long as resistance 113.10 holds. The slight strength in yen as several cases got infected increased sharply in Hubei. USDJPY has once again declined after a slight jump above 110 and a dip till 109.35 possible.

     

    On the flip side, the pair is trading below trend line support at 112.37 and a dip till 111.70/111/110.80 likely.

     

    The immediate resistance is around 112.60 (200- 4H MA), an indicative break above targets 113/113.37/113.90.

     

    It is good to sell on rallies around 112.35-40 with SL around 113 for the TP of 110.90.

     

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