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FxWirePro: Buy CHFJPY on dips

Ichimoku analysis (15 min chart)

 

Tenken-Sen- 116.66

 

Kijun-Sen- 116.62

 

CHFJPY has taken support near 200-15 min MA and showed a minor jump of more than 25 pips The jump mainly due to pullback in USDJPY from a low of 103.67. The pair should close above 104 for a jump to 104.75. USDCHF's intraday bullishness above 0.8920 level. The Intraday trend of CHFJPY is still bullish as long as support 116 holds.

 

Technical:

It is facing strong resistance around 117, any indicative break above will take the pair to next level 117.30/118. On the lower side, near term support is around 116.45, and any indicative break below targets 116/115.50/115/114.75.

 

Indicator (Daily chart)

 

CAM indicator –Bullish

 

Directional movement index –bullish

 

It is good to buy on dips around 116.50 with SL around 115.80 for the TP of 117.80.

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