Ichimoku Analysis (Daily chart)
Tenken-Sen- 114.48
Kijun-Sen- 115.38
CHFJPY continues to trade higher for 7th consecutive days on weak yen. The upbeat market sentiment has decreased demand for Safe-haven assets like the gold, yen. USDJPY surged more than 100 pips from a low of 104.94 made on Oct 2nd, 2020. USDCHF has formed a temporary top at 0.92961 and started to decline from that level. CHFJPY hits an intraday high of 115.74 and currently trading around 115.59.
The pair is facing strong resistance at 115.75, any break above confirms bullish continuation. A jump till 116/117 is possible. On the lower side, near-term intraday support is around 114.95, violation below will drag the pair down till 114.50/114/113.27.
It is good to buy on dips around 115.35.40 with SL around 114.90 for the TP of 117.
