FxWirePro: chfjpy trades above major resistance at 112.60, jump till 114 likely
Source: FxWire Pro - Technicals / 12 Jan 2020 12:27:53 America/New_York
Ichimoku Analysis (Daily Chart)
CHFJPY is trading higher for 5th consecutive days after forming a minor bottom around 110.89. The jump was mainly due to weakness in yen on easing US-Iran tension and trade talks optimism. It hits a high of 112.706 and is currently trading around 112.639.
USDJPY continues to trade higher and any break higher 109.75 confirms further bullishness, a jump till 110.60/111.
Technically, primary support is around 111.60 (21-day MA) and the break beneath targets 111. Major bearish continuation only beneath 110.80.
The significant resistance is at 112.70, the violation beyond will take the pair to the next level till 113.12/113.60/114.16.
It is good to buy on dips around 112.20 with SL around 111.60 for the TP of 114.© 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.