CHF/JPY reversed from support area

CHF/JPY reversed from support area

  • CHF/JPY reversed from support area
  • Next buy target - 112.30

 

CHF/JPY recently reversed up from the support area lying between the pivotal support level 111.00, 50-day moving average and the upper trendline of the recently broke down channel from March (acting as support after it was broken). The upward reversal from this support area continues the active medium-term impulse wave (3). CHF/JPY is expected to rise further toward the next buy target at the next resistance level 112.30 (top of wave 4 from April).

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