Ichimoku analysis (Hourly chart)
Tenken-Sen- 116.78
Kijun-Sen- 116.86
CHFJPY is trading slightly higher after a minor dip till 116.39.on the strong Swiss franc. The intraday trend is bullish as long as support 116.40 holds. USDCHF continues to trade weak after a minor pullback till 0.89466. The COVID-19 vaccine optimism and stimulus hopes are putting pressure on safe-haven assets like the yen.
Technical:
It is facing strong resistance around 117.20, any indicative break above will take the next level 117.55/118. On the lower side, near term support is around 116.40, and any indicative break below targets 116/115.50/115/114.75.
Indicator (hourly chart)
CAM indicator –Bullish
Directional movement index –bullish
It is good to buy on dips around 116.65-70 with SL around 116.30 for the TP of 118.
