Ichimoku analysis (Daily chart)
Tenken-Sen- 114.95
Kijun-Sen- 115.18
CHFJPY is trading weak for the past one week and lost more than 200 pips on strong yen. The yen gained on surging coronavirus cases in the US and other countries. The number of people who died on Tuesday due to coronavirus is at 10816, the highest single-day count. USDJPY is trading below 104, dip till 103 likely. The intraday trend of CHFJPY is bearish as long as resistance 115 holds.
Technical:
In the daily chart, CHFJPY is facing strong support at 113.55 (200- MA). Any violation below that level targets 113/112. On the higher side, near term intraday resistance is around 114.20, and any indicative break of that level will take the pair to 114.75/115.
Indicator (daily chart)
CAM indicator –Neutral
Directional movement index –neutral
It is good to sell on rallies around 114.15-20 with SL around 115 for the TP of 113.
