Categories: Technical analysis

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).

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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The FxPro Tech Analysis Team
Tags: CHFJPY

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