FxWirePro: EUR/JPY regains upside traction, retraces above 200H MA after upbeat Eurozone Retail Sales data
Trade Idea CHFJPY (Intraday)
Ichimoku analysis (Hourly chart)
CHFJPY has taken support near the trend line at 115.30 and shown a minor jump to 115.42. The minor weakness in the Swiss franc is putting pressure on this pair. USDCHF raised nearly 30 pips from a low of 0.9030. USDJPY has halted its three days of the bearish trend and shown a minor recovery. The intraday trend of this pair remains bearish as long as resistance 116 holds.
In the one hour chart, CHFJPY is trading below Tenken-Sen, Kijun-Sen, and 200 MA. Any break below 115.30 will take the pair till 115/114.86. On the higher side, near term intraday resistance is around 115.60 and any indicative break above that level will take the pair till 115.95/116.20/116.60/117 likely.
It is good to sell on rallies around 115.48-50 with SL around 115.80 for the TP of 115/114.85.