Ichimoku analysis (4-Hour chart)
Tenken-Sen- 117.27
Kijun-Sen- 116.96
CHFJPY is trading higher after a minor dip till 117.02. The intraday trend of the pair remains bullish as long as support 117 holds. USDCHF continues to trade weak and significant trend reversal only above 0.8950. The yen also on the downtrend on upbeat market sentiment.
Technical:
The pair is facing strong resistance at 117.50 and any indicative break above 117.50 will take to the 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 good to buy on dips around 117.40-45 with SL around 117 for the TP of 118.25.
