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Trade Idea CHFJPY (Intraday)

Wednesday, November 4, 2020 9:16 AM UTC

Ichimoku analysis (15 min chart)

Tenken-Sen- 114.62

Kijun-Sen- 114.62

CHFJPY is trading in a narrow range on US election uncertainty. The global market declined sharply after Trump said that he will take the election fight to the Supreme court. The intraday trend is neutral as long as resistance 115 holds. USDCHF is trading highly volatile, any significant weakness only below 0.9090 level.

Technical:
In the 15 min chart, CHFJPY is holding well above 200 MA. Any violation above 115 confirms minor trend reversal, a jump till 116/116.60 likely. On the lower side, near term intraday support is around 114.30, and any indicative break of that level target 114/113.75.

Indicator (15 min chart)

CAM indicator – slightly bullish

Directional movement- Bullish

It is good to buy above 115 with SL around 114.50 for the TP of 116

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Trade Idea CHFJPY (Intraday)

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