FxWirePro- CHFJPY (chart of the day)

Ichimoku Analysis (4 Hour chart)

Tenken-Sen- 119.60

Kijun-Sen- 119.691

 CHFJPY has taken support near the trend line and shown a nice recovery. It hits an intraday high of 120.22 and is currently trading around 120.14.

USDCHF Analysis

The pair is trading well 200-H MA, any breach below 0.91350 (trend line support) confirms further bearishness.

USDJPY

USDJPY is gaining momentum on surging US bond yields. Major resistances to be watched are 110.25.

Technically, near-term support is around 119.80 and any indicative break below will drag the pair down till 119.25/119/118.65.

The immediate resistance is at 120.25, any convincing break targets 120.60/121.20/122/123.

It is good to buy on dips around 120 with SL around 119.60 for the TP of 121.50.