Categories: Technical analysis

CHFJPY Wave Analysis – 22 July, 2020

• CHFJPY broke multi-month resistance level 114.40

• Likely to rise to 115.50

CHFJPY recently broke the powerful, multi-month resistance level 114.40 (which has been steadily reversing the price from the middle of January).

The breakout of the resistance level 114.40 accelerated the active impulse waves 3 and (3).

CHFJPY is likely to rise further toward the next resistance level 115.50. Strong support now stands at the aforementioned price level 114.40.

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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