CHFJPY Wave Analysis 1 October, 2020
October 01, 2020 @ 17:34 +03:00
• CHFJPY rising inside wave (ii)
• Likely to rise to 115.00
CHFJPY continues to rise inside the short-term corrective wave (ii), which started earlier from the pivotal support level 113.20 (monthly low from July), intersecting with the lower daily Bollinger Band and 50% Fibonacci correction of the uptrend from May.
The active wave (ii) belongs to the C-wave of the medium-term downward ABC correction (2) from the end of August.
CHFJPY is likely to rise further toward the next resistance level 115.00 (former powerful support from August and the start of September).