Technical analysis

CHFJPY Wave Analysis – 2 October, 2019

CHFJPY Wave Analysis – 2  October, 2019
  • CHFJPY reversed from resistance area
  • Likely to fall to 0.6150

CHFJPY recently reversed down from the resistance area lying between the resistance level 109.60 and the resistance trendline of the multi-month down channel from December.

The downward reversal from this resistance area started the active impulse wave (iii) – which belongs to the intermediate impulse wave (3) from the start of March.

CHFJPY is expected to fall further and retest the next support level 107.00 (target price for the completion of the active impulse wave (iii)).

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