Categories: Technical analysis

CHFJPY Wave Analysis – 10 April, 2019

  • CHFJPY reversed from resistance level 111.80
  • Further gains are likely

CHFJPY recently reversed down from the key resistance level 111.80 (former strong support from October, which has been steadily reversing the price from the end of February).

The downward reversal from the resistance level 111.80 started the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (3).

CHFJPY is expected to fall further and re-test the next support level 110.00 (monthly low from March).

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.

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Tags: CHFJPY

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