Candlestick analysis
Shooting Star (8-hour chart)
Ichimoku Analysis (8-hour chart)
Tenken-Sen- 115.35
Kijun-Sen- 115.21
CHFJPY has halted its ten days of the bullish trend and lost more than 130pips from high 116.30. The pair was one of the best performers in the past 3- weeks and gained more than 300 pips on the strong Swiss franc. USDCHF recovered sharply from 5-1/2 low and jumped 200 pips. Any violation above 0.9265 confirms bullish continuation.
On the lower side, near-term support is around 114.94 (61.8% fib) and any violation below will drag the pair down till 114.25/114/113. The next primary resistance to be watched is 116.30 and break above that level targets 117/118.
It is good to sell on rallies around 115.25-30 with SL around 116 for the TP of 113.
