Categories: Technical analysis

CHFJPY Wave Analysis – 7 September, 2020

• CHFJPY reversed from resistance level 117,50

• Likely to fall to 115,50

CHFJPY recently reversed down from the resistance level 117,50 (top of the previous impulse wave (iii)) – stranding near the upper daily Bollinger Band.

The downward reversal from the resistance level 117,50 started the active short-term ABC correction (iv).

CHFJPY is likely to fall further toward the next support level 115,50 (target price for the completion of the active wave (iv)).

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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