Ichimoku analysis (Hourly chart)
Tenken-Sen- 115.52
Kijun-Sen- 115.48
CHFJPY is trading weak and lost more than 100 pips on slight weakness in the Swiss franc. USDCHF has shown a minor recovery till 0.90922 from a low of 0.9030. USDJPY is still on the downtrend, minor bullishness can be seen only above 105 levels. The intraday trend of this pair remains bearish as long as resistance 116 holds.
Technical:
In the one hour chart, CHFJPY is trading below 100 and 200 MA. Any break below 115.23 will take the pair till 115/114.86. On the higher side, near term intraday resistance is around 115.60 and any indicative break above that level will take the pair till 115.95/116.20/116.60/117 likely.
It is good to buy on dips around 115.60-65 with SL around 115.40 for the TP of 116.50.
