CHFJPY: ⬆️ Buy
– CHFJPY reversed from support zone
– Likely to rise to resistance level 204.00
CHFJPY currency pair recently reversed from the support zone between the support level 198.65 (which has been reversing the price from the middle of February), 38.2% Fibonacci correction of the upward impulse from November and the lower daily Bollinger Band.
The upward reversal from this support zone created the daily Hammer, which stopped the previous minor correction 2.
Given the strong daily uptrend, CHFJPY currency pair can be expected to rise to the next resistance level 204.00 (which stopped impulses (1) and 1).