Market Snapshots

CHFJPY Wave Analysis – 01 April, 2020

CHFJPY Wave Analysis – 01 April, 2020
  • CHFJPY reversed from resistance area
  • Likely to fall to 110.40

CHFJPY recently reversed down from the resistance area lying between the key resistance level 114.00 (which has been reversing the price from the middle of January), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous weekly downtrend from 2018.

The downward reversal from this resistance area started the active short-term correction 2.

CHFJPY is likely to fall further toward the next support level 110.40 (low of the previous wave (ii) and the target price for the completion of the active correction 2).

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