Ichimoku analysis (hourly chart)
Tenken-Sen- 117.21
Kijun-Sen- 117.28
CHFJPY took support near 200- H MA and shown a minor jump of nearly 30 pips on weak yen. The decline in safe-haven demand assets like yen, gold is supporting the pair at lower levels. USDJPY is holding above 103.50 level and any violation above 104.10 targets 104.50/104.88.USDCHF recovered more than 100 pips from a low of 0.87570. The intraday trend of CHFJPY remains bullish as long as support 116.40 holds.
Technical:
The pair's strong resistance is at 117.40, violation above will take to the next level 117.80/118.05/118.60. On the lower side, near term support is around 116.74, and any indicative break below targets 116.59/116/115.84.
Indicator (1-hour chart)
CAM indicator –Neutral
Directional movement index –Neutral
It is good to buy on dips around 116.80 with SL around 116.40 for the TP of 118.60.
