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December 10, 2021 @ 19:41 +03:00
• 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).