FxPro - Analytics

FxPro

712.75 6.25/10
89% of positive reviews
Real

CHFJPY reversed from resistance area

  • CHFJPY reversed from resistance area
  • Further losses are likely

CHFJPY recently reversed down from the resistance area lying between the key resistance level 109.60, upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse from April.

The downward reversal from this resistance area completed the previous ABC correction 2 from the start of May.

CHFJPY is expected to fall further and retest the next key support level 108.00 (which reversed the previous waves 1 and (b))).

1560347644

Source: FxPro


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree