CHF/JPY broke strong support zone

CHF/JPY broke strong support zone

  • CHF/JPY broke strong support zone
  • Next sell target - 109.30

CHF/JPY continues to fall after the earlier breakout of the strong support zone lying between the pivotal support level 111.00 (low of the previous intermediate wave (A) from the end of February) and the 38.2% Fibonacci correction of the previous sharp upward impulse from October. The breakout of this support zone accelerated the active minor impulse wave 3, which belongs to wave (C) from March.

CHF/JPY is expected to fall to the next sell target at the support level 109.30 (target price calculated for the completion of the active minor impulse wave 3).



EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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