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Ichimoku Analysis (4-Hour chart)
Tenken-Sen- 111.806
Kijun-Sen- 111.816
CHFJPY has started to decline after hitting a high of 112.87 level. The decline was due to weakness in Swiss Franc, especially against USD. USDCHF surged sharply of more than 300 pips from a low of 0.9185 on strong USD.
On the flip side, near term support around 111 and any violation below will drag the pair down till 110.25/109.54.
The immediate resistance is around 112.25 and the indicative break above targets 112.87/113.20/113.71.
It is good to sell on rallies around 111.95-112 with SL around 113 for TP of 110.
