Ichimoku Analysis (1-hour chart)
Tenken-Sen- 116.69
Kijun-Sen- 116.95
CHFJPY has halted its 14-week of the bullish trend and lost more than 100 pips on strong Yen. USDJPY is trading weak for the week and declines 150 pips from minor top 107.05. Any violation below 105.30 confirms bearish continuation, a dip till 104.18 likely.
On the lower side, near-term intraday support is around 116.50 (200-H MA) and any close below will drag the pair down till 115.90/115.17/114.95. The next primary resistance to be watched is 116.91 and break above that level targets 117.45/117.65.
It is good to sell on rallies around 116.85-90 with SL around 117.65 for the TP of 115.
