Technical analysis

CHFJPY Wave Analysis – 16 June 2023

– CHFJPY broke resistance level 155.40

– Likely to rise to resistance level 160.00

CHFJPY recently broke above the strong resistance level 155.40 (which stopped the earlier impulse wave 3 with the daily Evening Star at the end of last month).

The breakout of the the resistance level 155.40 accelerated the active impulse waves 5 and (3).

Given the strong daily and the weekly uptrends, CHFJPY can be expected to rise further toward the next resistance level 160.00.

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