Overall trend : Bearish
Candlestick pattern- Shooting star
Ichimoku Analysis (4 hour chart)
Tenken-sen- 114.515
Kijun-Sen- 114.51
Trend reversal level (intra day)- 115.30
CHFJPY has halted its 2-weeks continuous bullishness and lost more than 100 pips from the high. The pair jumped more than 400 pips from the low of 110.83 and hits high of 115.29. It is currently trading around 114.30
On the lower side, near term support is 114.20 (23.6% fib) and any break below targets 113.59/113 in the short term.
The near term major resistance is around 115.30 and any violation above targets 116/116.45.
It is good to sell on rallies around 114.30-35 with SL 114.70 for the TP of 113.
