Ichimoku analysis (Daily chart)
Tenken-Sen- 115.274
Kijun-Sen- 115.274
As per our analysis, CHFJPY continues to trade higher on the strong Swiss franc. USDCHF has broken 0.9000 and hits the lowest level since Jan 2015 on broad-based US dollar selling. The demand for safe-haven decreased after Russia to start mass vaccination next week. The Intraday trend of CHFJPY is still bullish as long as support 116 holds.
Technical:
It is facing strong resistance around 117, any indicative break above will take the pair to next level 117.30/118. On the lower side, near term support is around 116, and any indicative break below targets 115.50/115/114.75.
Indicator (Daily chart)
CAM indicator –Bullish
Directional movement index –bullish
It is good to buy on dips around 116.50 with SL around 115.80 for the TP of 117.80.
