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FxWirePro: Buy CHFJPY on dips

FxWirePro: Buy CHFJPY on dips 

Ichimoku analysis (Hourly chart)

Tenken-Sen- 114.54

Kijun-Sen- 114.285 

As per our analysis, CHFJPY is trading higher for the past 3 days on weak yen.  USDJPY has halted its ten days of the bearish trend and shown a minor recovery.  Any break above 104.70 confirms bullish continuation. The upbeat market sentiment on COVID-19 is putting pressure on Safe-haven assets like yen, gold. The intraday trend of CHFJPY is bullish as long as support 113.74 holds.
  
Technical:
In the 60 min chart, CHFJPY is trading above 200 H MA.  Any violation above 114.60 will take to the next level till 115/115.35. On the lower side, near term support is around 113.75, and any indicative break below targets 113/112.

Indicator (60 min chart)

CAM indicator –Neutral

Directional movement index –neutral

It is good to buy above 114.20 with SL around 113.75 for the TP of 1115.30.
 

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