Ichimoku analysis (Daily chart)
Tenken-Sen- 115.89
Kijun-Sen- 115.48
CHFJPY is trading higher after a minor consolidation. The intraday trend of the pair remains bullish as long as support 117 holds. The strength in the Swiss franc due to an increase in demand for Safe-haven assets. USDCHF continues to trade weak for the third consecutive week.
Technical:
It is trading slightly above 88.6% retracement at 117.35; any indicative break above 117.50 will take the pair to next level 117.80/118/118.27 (161.8% fib). On the lower side, near term support is around 117, and any indicative break below targets 116.65/116.40/116.
Indicator (hourly chart)
CAM indicator –Bullish
Directional movement index –bullish
It is a good to buy on dips around 117.20-25 with SL around 116.80 for the TP of 118.25.
