Ichimoku analysis (Daily chart)
Tenken-Sen- 114.86
Kijun-Sen- 114.92
CHFJPY hits a 2-1/2 month high on the strong Swiss franc. USDCHF declined sharply and trading at a 4-week low on broad-based US dollar selling. The demand for safe-haven decreased after UK approves Pfizer and BioNtech COVID-19 vaccine. The Intraday trend of CHFJPY is still bullish as long as support 115 holds.
Technical:
It is facing strong resistance around 116.58 (trend line resistance), any indicative break above will take the pair to next level 117.30/118. On the lower side, near term support is around 115.60, and any indicative break below targets 115/114.75.
Indicator (Daily chart)
CAM indicator –Bullish
Directional movement index –bullish
It is good to buy on dips around 115.60 with SL around 115 for the TP of 117.30
