Ichimoku Analysis (4-hour chart)
Tenken-Sen- 116.09
Kijun-Sen- 116.09
CHFJPY jumped more than 80 pips for the day on strong Swiss Franc. USDCHF was trading extremely weak on broad-based US dollar selling. Any major trend reversal only above 0.9200 level. The US dollar index has fallen sharply after an optimistic comment from ECB President.
On the lower side, near-term intraday support is around 116.50 and any close below will drag the pair down till 116/115.15/114.27/113. The next primary resistance to be watched is 117.35 and break above that level targets 118/118.62.
It is good to buy on dips around 116.60 with SL around 116. for the TP of 118.
