Technical analysis

CHFJPY Wave Analysis 30 May 2024

– CHFJPY broke key resistance level 172.50

– Likely to rise to resistance level 174.00

CHFJPY currency pair recently broke above the key resistance level 172.50, which has been repeatedly reversing the price from the end of April.

The breakout of the resistance level 172.50 should accelerate the active minor impulse wave 3 of the higher order impulse wave (3) from the start of May.

Given the clear daily uptrend and the continuation of the yen sales, CHFJPY currency pair can be expected to rise further to the next resistance level 174.00.

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