Ichimoku Analysis (Daily chart)
Tenken-Sen- 116.22
Kijun-Sen- 116.52
CHFJPY continues to trade weak for fourth consecutive days on strong yen. USDJPY has broken significant support 105 and hits 1-month low on safe-haven demand. Any daily close below 105 will take the pair till 104.18.
On the lower side, near-term intraday support is around 115 and any violation below will drag the pair down till 114.27/113. The next primary resistance to be watched is 116.25 and break above that level targets 116.83/117.30.
It is good to sell on rallies around 116 with SL around 116.80 for the TP of 113.
