Categories: Technical analysis

CHFJPY Wave Analysis – 14 July, 2020

• CHFJPY reversed from support area

• Likely to rise to 114,600

CHFJPY recently reversed up with the daily Bullish Engulfing from the support area located between the support level 113,50 (low of wave (iv)) and 38.2% Fibonacci correction of the previous upward impulse wave (i).

The upward reversal from this support area started the active short-term impulse wave (iii).

CHFJPY is likely to rise further toward the next resistance level 114,600 (which stopped the previous minor impulse wave (i)).

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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