Technical analysis

CHFJPY Wave Analysis 28 July 2023

– CHFJPY reversed from key support level 158.80

– Likely to rise to resistance level 162.00

CHFJPY currency pair recently reversed up from the key support level 158.80 (former resistance from June, which has been reversing the pair from the start of July).

The support level 158.80 was strengthened by the nearby lower daily Bollinger Band and the support trendline of the daily up channel from March.

Given the clear daily uptrend , CHFJPY can be expected to rise further toward the next resistance level 162.00.

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