FxWirePro: buy chfjpy on dips
Source: FxWire Pro - Technicals / 22 Nov 2020 11:41:36 America/New_York
Ichimoku analysis (15 min chart)
CHFJPY has shown a minor recovery of nearly 45 pips on the strong Swiss franc. USDCHF continues to trade lower on broad-based US dollar selling. Any violation below 0.9090 confirms the bearish continuation. The yen declined slightly against the USD and significant trend reversal only above 104.20. The intraday trend of CHFJPY is bullish as long as support 113.74 holds.
In the 15 min chart, CHFJPY is facing strong support at 113.74. 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 114.75/115/115.60.
Indicator (15 min chart)
CAM indicator –Neutral
Directional movement index –neutral
It is good to buy above 114.20 with SL around 113.75 for the TP of 1115.30.© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.