FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(USDCHF and CADJPY) for the day
FxWirePro: GBP/CHF edges higher from session lows, lower-than-expected plunge in UK Retail Sales supports pound
FxWirePro: CHFJPY Daily outlook
Major Intraday resistance - 125.65
Intraday support- 124
CHFJPY took support near 200-4H EMA and showed a minor pullback. The pair was one of the best performers in the last quarter, jumping more than700 pips on the weak Japanese Yen. USDJPY hits three years high on surging US treasury yield and upbeat market sentiment. CHFJPY hits an intraday high of 125.66 and is currently trading around 123.507.
CCI and Woodies CCI analysis-
Both CCI (50) and Woodies CCI are trading above zero lines in the 4-hour chart. It confirms a bullish trend.
Technically, near-term support is around 125 and any indicative break below will drag the pair down till 124.30/124/123.40/123. The immediate resistance is at 125.65, any convincing break targets 126/127.10.
It is good to buy on dips around 125 with SL around 124 for the TP of 127.