FxWirePro: USD/JPY grinds higher despite BOJ policymakers’ cautious optimism, positive headlines from China keep sentiment buoyed
FxWirePro- USDCHF Daily Outlook
Ichimoku analysis (4-hour chart)
This month High– 0.92748
Previous week low- 0.91330
The pair recovered more than 100 pips from a low of 0.91175 on board-based US dollar buying. The intraday trend is bullish as long as support 0.9150 is intact. The average number of people who have been hospitalized rose by 21% in the past 30 days. The US 10-year yield shown a minor pullback of nearly 9.5% after hitting a 5-mont hlow1.1290%.USDCHFhits an intraday high of 0.92309 and currently trading around 0.92256.
The near-term support is around 0.9150, the breach below will take the pair to 0.9120/0.9059/0.9000. On the higher side, immediate resistance is around 0.92380. Any convincing breach above targets 0.92750/0.93000.
Indicator (4 Hour chart)
CAM indicator – Bullish
Directional movement index –Bullish
It is good to buy on dips around 0.9170 with SL around 0.9130 for a TP of 0.9270.