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Ichimoku Analysis (4-hour chart)
Tenken-Sen- 116.40
Kijun-Sen- 116.76
CHFJPY continues to trade weak for the past five days and lost more than 200 pips. The weak in Swiss franc due to COVID-19 vaccine optimism and hopes of economic recovery. USDJPY is trading flat and nay violation above 106.60 confirms further bullishness, A jump till 107.05/107.50 likely.
On the lower side, near-term intraday support is around 116 and any close below will drag the pair down till 115.17/114.95/114.15. The next primary resistance to be watched is 116.60 and break above that level targets 117.14/118.
It is good to sell on rallies around 116.20-25 with SL around 117 for the TP of 114.15.
