CHFJPY Wave Analysis – 20 January, 2023

• CHFJPY reversed from support level 138.00

• Likely to rise to resistance level 142.50

CHFJPY recently reversed up from the key support level 138.00 (which has been revering the price from June), intersecting with the lower daily Bollinger Band and the support trendline of the daily down channel from September.

The upward reversal from the support level 138.00 started the active primary impulse wave ③.

CHFJPY can be expected to rise further toward the next resistance level 142.50 (previous minor reversal high).

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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