Technical analysis

CHFJPY Wave Analysis – 22 September, 2022

CHFJPY Wave Analysis – 22 September, 2022

• CHFJPY reversed from resistance zone

• Likely to fall to support level 144.00

CHFJPY recently reversed down sharply from the resistance zone located between the round resistance level 150.00 (which formed the daily Evening Start patter at the start of this month) and the upper daily Bollinger Band.

The downward reversal from the resistance level 150.00 started the active minor correction 4.

CHFJPY can be expected to fall further toward the next support level 144.00 (target price for the completion of the active correction 4, intersecting with the support trendline from May).

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