Ichimoku analysis (1-hour chart)
Tenken-Sen- 117.28
Kijun-Sen- 117.23
CHF/JPY has shown a minor recovery after a dip till 116.17. The slight weakness in the yen due to the surge in bond yield is supporting the prices at lower levels. USDJPY's significant trend continuation only if it crosses 106.40. USDCHF formed a temporary top at 0.9090 and lost more than 50 pips. Major trend continuation only below 0.9000. The intraday trend of CHFJPY remains bearish as long as resistance 117.80 holds.
Technical:
The pair's strong resistance is at 117.80, violation above will take to the next level 118.20/118.85/120. On the lower side, near-term support is around 117, and any indicative break below targets 116.69/116.15.
Indicator (60 min chart)
CAM indicator – Neutral
Directional movement index – Neutral
It is good to sell on rallies around 117.55-60 with SL around 118 for the TP of 116.20.
