Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: CHFJPY

Recent Posts

Dollar: Slowing Momentum, Same Direction

The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…

2 hours ago

Bitcoin Fell Back to Local Support

Bitcoin finds support near the 50-day moving average, but further declines in the stock market…

4 hours ago

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

3 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

3 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

3 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

This website uses cookies