Technical analysis of GBP/JPY
EUR/CHF rising inside intermediate impulses wave (5)
- EUR/CHF rising inside intermediate impulses wave (5)
- Next buy target - 1.1600
EUR/CHF has been rising in the last few trading sessions inside the intermediate impulses wave (5) which started earlier from the combined support zone lying between the key support level 1.1380, lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward price impulse (v) from the middle of August. EUR/CHF is expected to rise further toward the next buy target at the next resistance level 1.1600 (top of the previous sharp intermediate impulse wave (3)).
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.