Technical analysis

CHFJPY Wave Analysis – 27 October, 2022

CHFJPY Wave Analysis – 27 October, 2022

• CHFJPY reversed from resistance level 150.40

• Likely to fall to support level 146.00

CHFJPY currency pair recently reversed down from the key resistance level 150.40 (which has been steadily reversing the pair from the start of September) strengthened by the upper daily Bollinger Band.

The downward reversal from the resistance level 150.40 started the active impulse waves (i) and (C) – which belong to the intermediate ABC wave (2) from the middle of September.

CHFJPY can be expected to fall further toward the next support level 146.00 (which stopped the earlier minor wave A at the start of October).

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