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Trend line resistance- 115.97
Ichimoku Analysis (4-hour chart)
Tenken-Sen- 115.58
Kijun-Sen- 116.08
CHFJPY recovered sharply after hitting a low of 115.15 level on the strong Swiss franc. The halt of the COVID-19 trail by AstraZeneca has increased demand for safe-haven assets like the Swiss franc and gold. USDCHF has once again declined after touching the 0.92000 level. Any violation above 0.9200 confirms further bullishness.
On the lower side, near-term intraday support is around 115 and any close below will drag the pair down till 114.15/113. The next primary resistance to be watched is 116.50 and break above that level targets 117.14/118.
It is good to buy on dips around 116 with SL around 115.20 for the TP of 118.
