Ichimoku analysis (Hourly chart)
Tenken-Sen- 115.09
Kijun-Sen- 115.40
CHFJPY has taken support near 200 H EMA and shown a minor jump. The slight weakness in Yen is supporting prices at a lower level. USDJPY is holding above 105, any break above 105.70 confirms trend continuation. The intraday trend of CHFJPY is bullish as long as support 114.40 holds.
Technical:
In the hourly chart, CHFJPY is holding well above 200 MA. Any violation above 115.52 (61.8% fib) confirms minor bullish continuation, a jump till 116/116.60 likely. On the lower side, near term intraday support is around 114.80, and any indicative break of that level target 114.50/114/113.75.
Indicator (hourly chart)
CAM indicator –Bullish
Directional movement index –Bullish
It is good to buy on dips around 114.85-90 with SL around 114.50 for the TP of 116
