Ichimoku analysis (1-hour chart)
Tenken-Sen- 116.43
Kijun-Sen- 116.79
CHF/JPY continues to trade weak on board-based Swiss franc selling. USDCHF breaks significant resistance 0.90440 after a long consolidation, a jump till 0.9148 likely. The slight weakness in the yen is preventing CHFJPY from further weakness. USDJPY bullish continuation only above 106.25. The intraday trend of CHFJPY remains bearish as long as resistance 117.88 holds.
Technical:
The pair's near-term resistance is at 116.80, violation above will take to the next level 117.35/117.80/118. On the lower side, immediate support is around 116.10 (100- day MA), and any indicative break below targets 115.25/115.
Indicator (Daily chart)
CAM indicator – neutral
Directional movement index – neutral
It is good to sell on rallies around 117.75-80 with SL around 118.85 for the TP of 116.
