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Ichimoku analysis (hourly chart)
Tenken-Sen- 112.34
Kijun-Sen- 112.63
CHFJPY continues to trade lower after a minor pullback till 112.50. The decline was mainly due to weak Swiss franc against all majors. USDCHF recovered sharply after forming a bottom at 0.96245. It hits a high of 0.9788 and a jump till 0.9845 possible.
On the flip side, the pair is trading below trend line support at 112.20 and a dip till 111.70/111/110.80 likely.
The immediate resistance is around 112.57 (200- 4H MA), an indicative break above targets 113/113.37/113.90.
It is good to sell on rallies around 112.25-30 with SL around 112.60 for the TP of 110.90.
