Categories: Technical analysis

CHFJPY Wave Analysis 18 November, 2020

• CHFJPY approaching key support level 113.80

• Likely to fall to 113.25

CHFJPY continues to fall inside the short-term correction (ii), which started earlier from the key resistance level 116.20 (which has been reversing the pair from the start of October) and the upper daily Bollinger Band.

The price is currently approaching the key support level 113.80 (low of the previous ABC correction 2 from the end of October) – which is likely to be broken under the current intense yen bullishness.

CHFJPY is likely to fall further toward the next support level 113.25 (which has been reversing the price from the middle of July).

AddThis Website Tools
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.

Share
Published by
The FxPro Tech Analysis Team
Tags: CHFJPY

Recent Posts

Video: Dollar and Indices are trying to find footing after the fall

The dollar experienced a sell-off but rallied back up by the end of the week.…

4 hours ago

What is next: BoJ, Fed, SNB & BoE Rates

The new week will be packed with economic data and decisions from key central banks.…

7 hours ago

Dollar attempts to rebound after oversold conditions

Despite economic factors working against the dollar, its oversold condition helped it this week or…

8 hours ago

USDCAD Wave Analysis – 14 March 2025

USDCAD: ⬇️ Sell - USDCAD reversed from key resistance level 1.4500 - Likely to fall…

9 hours ago

Solana Wave Analysis – 14 March 2025

Solana: ⬆️ Buy - Solana reversed from the long-term support level 113.75 - Likely to…

9 hours ago

Adobe Wave Analysis – 13 March 2025

Adobe: ⬇️ Sell - Adobe broke round support level 400.00 - Likely to fall to…

24 hours ago