Technical analysis

CHFJPY Wave Analysis – 9 December, 2021

CHFJPY Wave Analysis – 9 December, 2021

• CHFJPY reversed from key support level 122.40

• Likely to rise to resistance level 123.60

CHFJPY currency pair recently reversed up from the key support level 122.40 (former multi-month resistance from July) – intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from October.

The upward reversal from the support level 122.40 started the active short-term impulse wave C.

CHFJPY can be expected to rise further toward the next resistance level 123.60 (which reversed the price multiple times from the end of November).

Article Rating
Rate this post