Technical analysis

CHFJPY Wave Analysis – 1 November, 2021

CHFJPY Wave Analysis – 1 November, 2021

• CHFJPY broke key resistance level 124.5

• Likely to rise to resistance level 126.00                                                                  

CHFJPY continues to rise after the price broke the key resistance level 124.5 (which stopped the previous sharp upward impulse wave 1 in the middle of October, as can be seen below).

The breakout of the resistance level 124.5 accelerated the active impulse waves 3 and (3).

Given the clear daily uptrend, CHFJPY currency pair can be expected to rise further toward the next resistance level 126.00 (target price for the completion of the active impulse wave 3).

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