Ichimoku analysis (4-hourly chart)
Tenken-Sen- 116.549
Kijun-Sen- 116.68
CHFJPY took support near 200- H EMA and shown a minor recovery. USDCHF has once again declined after a jump above 0.8900 on broad-based dollar selling. The intraday trend of CHFJPY remains bullish as long as support 116 holds.
Technical:
The pair's strong resistance is at 116.81 (100- H MA), violation above will take to the next level 117.05/117.50/117.80. On the lower side, near term support is around 116.05, and any indicative break below targets 115.73/115.38.
Indicator (4-hour chart)
CAM indicator –Neutral
Directional movement index –Neutral
It is good to buy on dips around 116.75-80 with SL around 117.05 for the TP of 115.38.
