FxWirePro: buy chfjpy above 112.50
Source: FxWire Pro - Technicals / 02 Feb 2020 09:59:17 America/New_York
Ichimoku Analysis (4 Hour chart)
CHFJPY has halted its 2-weeks of bearishness and shown a minor jump of more than 70 pips on a slight jump in Swiss franc. The coronavirus has spread to 19 countries and almost 213 people died in China. The demand for riskier assets is getting declined. It hits an Intraday low of 112.508 and is currently trading around 112.501.
USDCHF is trading weak and any break below 0.9670 will drag the pair down till 0.9645/0.9615.
Technically, near-term support is around 111.70 and any indicative break below will drag the pair down till 111.24/110.89 (Jan 5th low).
The immediate resistance is at 112.50, any convincing break target 113.06/113.37.
It is good to buy above 112.50 with SL around 112 for the TP of 113.40.© 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.