FxWirePro: CHF/JPY continues to trade higher for 6th consecutive day, jump till 114.75 likely

Overall trend : Bullish

Ichimoku Analysis (Daily Chart)

Tenken-sen- 112.13

Kijun-Sen- 112.07

Trend reversal level (intra day)- 113.80

As per our analysis CHF/JPY is continuously trading higher for past 6 trading session and jumped more than 290 pips from the low of 110.81. It hits high of 113.77 at the time of writing. It is currently trading around 113.73.

The pair has broken major resistance 113.48 high made on Mar 6th 2018 and is trading above that level. So it is good to hold our long positions as long as support 113.25 holds.
 

Any break above major resistance 113.80 will take the pair to next level 114.45/114.75.

On the lower side, any violation below 113.25 will drag the pair to next level till 113.08/112.71 (5 day MA)/112.

It is good to buy on dips around 113.55-60 with SL around 113.25 for the TP of 114.75.