- CHFJPY reversed from support level 109.00
- Likely to rise to 110.15
CHFJPY recently reversed up from the support level 109.00 – strengthened by the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from October.
The upward reversal from the support level 109.00 created the daily reversal pattern Bullish Engulfing.
CHFJPY is expected to rise further toward the next key resistance level 110.15 (which reversed multiple upward impulses form last month).