Ichimoku Analysis (4-Hour chart)
Tenken-Sen- 114.66
Kijun-Sen- 114.66
CHFJPY is trading higher for 2nd consecutive day after a minor decline till 114.04. The slight jump in Swiss franc on broad-based US dollar selling. The positive update on Donald Trump's health has improved global market sentiment and US dollar index lost more than 20 pips for the day. USDCHF has formed a temporary top at 0.92961 and started to decline from that level. CHFJPY hits an intraday high of 115.36 and currently trading around 115.35.
The pair is facing strong resistance at 115.69 (200-4H EMA),any break above confirms bullish continuation. A jump till 116/117 is possible. On the lower side, near-term intraday support is around 114.87, violation below will drag the pair down till 114/113.10/112.
It is good to buy on dips around 114.85-90 with SL around 114 for the TP of 117.
