CHFJPY Wave Analysis – 30 November, 2022

• CHFJPY reversed from support level 145.20

• Likely to rise to resistance level 148.90

CHFJPY today reversed up from the key support level 145.20 (which has been reversing the price from the end of September).

The support level 145.20 was further strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward impulse from August.

Given the clear daily uptrend, CHFJPY can be expected to rise further toward the next resistance level 148.90 (top of the earlier waves B and (ii)).