Technical analysis

CHFJPY Wave Analysis 9 December 2023

– CHFJPY reversed from support level 162.40

– Likely to rise to resistance level 167.35

CHFJPY recently reversed up sharply from the key support level 162.40, which has been reversing the pair from the start of August.

The upward reversal from the support level 162.40 created the daily Japanese candlesticks reversal pattern Long legged Doji.

Given the strong daily uptrend, CHFJPY currency pair can be expected to rise further to the next resistance level 167.35 (former support from the end of November).

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