Technical analysis

CHFJPY Wave Analysis 19 October, 2020

CHFJPY Wave Analysis 19 October, 2020

• CHFJPY reversed from support area

• Likely to rise to 116.20

CHFJPY recently reversed up from the support area lying between the key support level 115.00 and the 38.2% Fibonacci correction of the upward impulse 1 from September.

The upward reversal from this support area started the active short-term impulse wave 3.

CHFJPY is likely to rise further toward the next resistance level 116.20 (top of the previous short-term impulse wave 1).

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