FxWirePro: CAD/JPY’s Interim Bulls Seem Deceptive, Major Downtrend Still Imminent On Head & Shoulder Pattern – Trade & Hedging Setup
FxWirePro: CHFJPY Daily Outlook
Ichimoku Analysis (4 Hour chart)
CHFJPY has recovered sharply after a minor decline below 200-4H MA. The jump was mainly due to strong Swiss franc against all majors. USDCHF declined more than 80 pips from minor top 0.97363 on broad-based US dollar selling.
The pair is facing strong resistance at 111.58 (trend line resistance) and hourly close above that level targets 112.50/114. The decline from 113.99 will end at 108.67 only if it breaks 112.50. The immediate support stands at 110.62 (200- 4H MA) and breaks below will drag the pair down till 110.14/109.90/109.50.
It is good to buy on dips around 111 with SL around 110.60 for the TP of 112.50.