FxWirePro: CHFJPY Daily Outlook
Ichimoku analysis (Hourly chart)
Tenken-Sen- 115.31
Kijun-Sen- 115.18
CHFJPY is trading higher and holding above 115 levels on the strong Swiss franc. USDCHF continues to trade weak and significant trend reversal below 0.9000 levels. The broad-based US dollar selling on COVID-19 vaccine optimism. The Intraday trend of CHFJPY is still bullish as long as support 115 holds.
Technical:
It is facing strong resistance around 115.65 (trend line resistance), any indicative break above will take the pair to next level 116.10/116.60. On the lower side, near term support is around 114.85 (100 –H MA) and any indicative break below targets 114.69/114.20.
Indicator (1 Hour chart)
CAM indicator –Bearish
Directional movement index –bullish
It is good to buy on dips around 114.85-90 with SL around 114.40 for the TP of 116.
