Categories: Technical analysis

CHFJPY Wave Analysis – 13 January, 2020

  • CHFJPY rising inside impulse wave С
  • Likely to rise to 113.70

CHFJPY recently broke the resistance area lying between the resistance level 112.40 (top of the previous wave (i)) and the 50% Fibonacci correction of the previous downward impulse from 2018,

The breakout of this resistance area accelerated the active impulse wave C from the end of November.

CHFJPY is likely to rise further toward the next resistance level 113.70 (target for the completion of the active impulse С).

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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