CHF/JPY reversed from combined support zone

CHF/JPY reversed from combined support zone

  • CHF/JPY reversed from combined support zone
  • Next buy target - 115.00

CHF/JPY recently reversed up strongly from the combined support zone located between the key support level 112.70 (which has been reversing the price from May), lower daily Bollinger Band and the 50% Fibonacci retracement of the previous sharp upward impulse from April. The upward reversal form this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing. Given the strength of the aforementioned support zone - CHF/JPY is expected to rise to next buy target at the next resistance level 115.00.


Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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