Ichimoku analysis (15 min chart)
Tenken-Sen- 115.99
Kijun-Sen- 115.99
CHFJPY is trading higher for the second consecutive day and jumped more than 100 pips on the strong Swiss franc. USDCHF has formed a minor top around 0.91650 and declined nearly 80 pips on broad-based US dollar selling. The demand for safe-haven assets got decreased in hopes of fresh stimulus from the US. The intraday trend of this pair remains bullish as long as support 115.80 holds.
Technical:
In the 15 min chart, CHFJPY is trading well above the long-term moving average (200 MA). Any break above 116.20 will take the pair till 116.50/116.77. On the flip side, near term intraday support is around 115.80 and any indicative break below that level will take the pair till 115.50/115.
It is good to buy on dips around 116 with SL around 115.80 for the TP of 116.48/116.77.
