Technical analysis

CHFJPY Wave Analysis – 22 November, 2022

CHFJPY Wave Analysis – 22 November, 2022

• CHFJPY reversed from support level 144.50

• Likely to rise to resistance level 150.00

CHFJPY recently reversed up from the key support level 144.50 (which stopped the price in September), standing near the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse (1) from August.

The upward reversal from the support level 144.50 started the active medium-term impulse wave (3).

Given the clear daily uptrend, CHFJPY can be expected to rise further toward the next resistance level 150.00 (which has been reversing the price from September).

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