Ichimoku analysis (4-hourly chart)
Tenken-Sen- 116.72
Kijun-Sen- 116.67
CHFJPY is trading higher and holding above 117 levels on the strong Swiss franc. The Swiss franc is trading higher against the USD on broad-based US dollar selling. USDCHF is trading weak for the second consecutive days, any violation below 0.8820 confirms bearish continuation. The intraday trend of CHFJPY remains bullish as long as support 116 holds.
Technical:
The pair's strong resistance is at 117.40, violation above will take to the next level 117.80/118.05/118.60. On the lower side, near term support is around 116.78, and any indicative break below targets 116.59/116/115.84.
Indicator (4-hour chart)
CAM indicator –Bullish
Directional movement index –Bullish
It is good to buy on dips around 116.80 with SL around 116.40 for the TP of 118.60.
