Market Snapshots

CHFJPY Wave Analysis – 4 June, 2020

CHFJPY Wave Analysis – 4 June, 2020

• CHFJPY broke key resistance level 112,50

• Likely to rise to 114,00

CHFJPY rising sharply after the earlier breakout of the key resistance level 112,50 (which stopped the previous short-term correction (ii) in April).

The breakout of the resistance level 112,50 is aligned with the active impulse wave 3 – which belongs to the sharp impulse wave (C) from the start of May.

CHFJPY is likely to rise further toward the next resistance level 114,00 (target price for the completion of the active impulse wave 3).

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