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CHFJPY Wave Analysis – 11 May, 2019

CHFJPY Wave Analysis – 11 May, 2019

  • CHFJPY reversed from key support level 108.80
  • Likely to rise to 111.50

CHFJPY recently reversed up from the key support level 108.80 (which stopped the earlier short-term correction 2 in November) – standing near the lower daily Bollinger band.

The upward reversal form the support level 108.80 created the daily reversal pattern Piercing Line – which started the active impulse wave (3).

CHFJPY is expected to rise further toward the next resistance level 111.50 (top of the previous sharp correction (iv)).

CHFJPY Wave Analysis – 11 May, 2019

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