Technical analysis

CHFJPY Wave Analysis 13 April, 2021

CHFJPY Wave Analysis 13 April, 2021

• CHFJPY reversed from resistance level

• Likely to reach support level 118.00

CHFJPY currency pair recently reversed down with the daily Long-Legged Doji from the key resistance level 118.700 (former strong resistance from the middle of February, top of the previous impulse wave 1).

The resistance level 118.700 was further strengthened by the upper daily Bollinger Band.

CHFJPY is likely to fall further toward the next support level 118.00 (former resistance from the middle of March).

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