Categories: Technical analysis

CHFJPY Wave Analysis 24 November, 2020

• CHFJPY reversed from key support level 113.80

• Likely to rise to 115.00

CHFJPY previously reversed up from the key support level 113.80 (low of the previous minor correction (a)) – strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 113.80 started the active short-term impulse wave 3 – which belongs to wave (3) from September.

CHFJPY is likely to rise further toward the next resistance level 115.00. Strong support remains at the support level 113.80.

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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