Technical analysis

CHFJPY Wave Analysis – 12 July, 20211

• CHFJPY reversed from support level 119.00
• Likely to rise to resistance level 121.00

CHFJPY currency pair recently reversed up from the support level 119.00 (previous monthly low from June), standing near the lower daily Bollinger band and 61.8% Fibonacci retracement of the extended upward impulse from the end of March

The upward reversal from the support level 119.00 stopped the previous minor ABC correction (ii).

CHFJPY currency pair can be expected to rise further toward the next resistance level 121.00 (top of the previous impulse wave (i)).

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