Ichimoku analysis (1-Hour chart)
Tenken-Sen- 120.325
Kijun-Sen- 120.327
CHF/JPY is trading weak and lost nearly 50 pips from an intraday high of 120.50. the board-based weakness in the Swiss franc is putting pressure on this pair at higher levels. USDCHF is holding well above 0.9200, a jump till 0.9300 is possible. The yen has regained against the US dollar for the past three days. USDJPY should break below 110.40 for further bearishness.
Intraday analysis-
Trend – Bearish
The pair is trading well below 1-hour Tenken-Sen, Kijun-Sen, and cloud. The near-term resistance is around 121. Any violation above targets 122/123. The immediate support is around 120. Any decline below that level will take the pair to 119.60/118.80/118.50.
Indicator (1-Hour chart)
CAM indicator –Bearish
Directional movement index – Bearish
It is good to sell on rallies around 120.15-20 with SL around 121 for a TP of 118.


FxWirePro: GBP/USD edges higher as traders await BoE guidance and UK fiscal clarity
Major Pairs Action Bias: USDCAD and USDCHF Stand Out as Extremely Bullish While GBPUSD and NZDUSD Turn Extremely Bearish
FxWirePro: EUR/AUD outlook weaker on renewed downside pressure
FxWirePro : USD/JPY holds relatively bid on 163 ahead Of FOMC,BoJ meetings
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
FxWirePro: GBP/NZD maintains bersish bias with focus on 2.2900 level
FxWirePro: NZD/USD edges lower, remains on back foot
FxWirePro: EUR/NZD up trend gains momentum but hurdles ahead
FxWirePro: USD/ CNY remains soft ahead of Fed decision
NZD/JPY Flatlines Near 94.60: Will Key Support Reignite the Uptrend?
FxWirePro: AUD/USD dips after RBA Governor speech
FxWirePro: AUD/USD falls after softer-than-expected Australian Q2 CPI
EUR/JPY Holds Bullish Bias as Euro Extends Recovery
NZDJPY Pullback: Sell Rallies Toward 93.30 as Yen Weakness Eases
JPY Action Bias: USDJPY Emerges as the Clear Bullish Pair to Watch Amid Mixed Crosses
Major Forex Pairs Action Bias: GBPUSD and AUDUSD Turn Extremely Bearish 



