Categories: 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.

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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