Ichimoku Analysis (4-hour chart)
Tenken-Sen- 115.67
Kijun-Sen- 114.77
CHFJPY continues to trade higher and after hitting a low of 115.46. The pair's recovery mainly due to weak yen on COVID-19 vaccine optimism. Russian President Putin said to reporters that Vaccine "Sputnik V" has been approved and his daughter got vaccinated. USDJPY is in the bullish mode and holding above 106.50 level. A jump till 107.20/107.54 likely.
On the lower side, near-term support is around 116 (23.6% fib) and any violation below will drag the pair down till 115.60 (38.2% fib)/114.95/114.12. The next primary resistance to be watched is 116.60 and break above that level targets 117.10/117.90.
It is good to buy on dips around 116.40-45 with SL around 115.60 for the TP of 117.90.
