Short term trend: Bearish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 0.9707
Kijun-Sen level: 0.9708
Ichimoku cloud top: 0.9771
Ichimoku cloud bottom: 0.9763
USD/JPY has taken support around 0.9652 (trend line joining 0.9617 and 0.96140) and recovered till 0.9722. Overall trend is weak and trend reversal can happen only above 0.9778 level.
The pair’s minor resistance is around 0.9740 (Nov 7th high) and any indicative break above would extend gain to 0.9778/0.9818.
The major resistance is around 0.9645 and below that level it can reach 0.9590/0.9550 in short term.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Buy
Recommendation: Sell USD/CHF around 0.9720-25, SL 0.9778, Target 0.9650/0.9592.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 0.9707
Kijun-Sen level: 0.9708
Ichimoku cloud top: 0.9771
Ichimoku cloud bottom: 0.9763
USD/JPY has taken support around 0.9652 (trend line joining 0.9617 and 0.96140) and recovered till 0.9722. Overall trend is weak and trend reversal can happen only above 0.9778 level.
The pair’s minor resistance is around 0.9740 (Nov 7th high) and any indicative break above would extend gain to 0.9778/0.9818.
The major resistance is around 0.9645 and below that level it can reach 0.9590/0.9550 in short term.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Buy
Recommendation: Sell USD/CHF around 0.9720-25, SL 0.9778, Target 0.9650/0.9592.