Candlestick analysis
Doji (8-hour chart)
Shooting star (4-our chart)
Ichimoku Analysis (4-hour chart)
Tenken-Sen- 114.34
Kijun-Sen- 113.85
CHFJPY has halted its ten days of the bullish trend and lost nearly 80 pips from high 115.63. The pair was one of the best performers in the past 2- weeks and gained more than 250 pips on the strong Swiss franc. USDCHF hits 4-1/2 month low and breaks below 0.9160 confirms major trend continuation.
On the lower side, near-term support is around 114.66 (38.2% fib) and any violation below will drag the pair down till 114.35/113.79/113.40/113. The next primary resistance to be watched is 115.63 (161.8% fib) and break above that level targets 116.17/117.
It is good to sell on rallies around 114.85-90 with SL around 115.65 for the TP of 113.
