September 10, 2020 at 03:21PM

• CHFJPY reversed from support level area

• Likely to rise to 117.65

CHFJPY recently reversed up from the support area located between the key support level 115.50 (low of the previous minor correction (iv)), lower daily Bollinger band and the 50% Fibonacci retracement of the previous upward impulse from July.

The upward reversal from the support level 115.50 started the active short-term impulse wave (v).

CHFJPY is likely to rise further toward the next resistance level 117.65 (which stopped the previous waves (iii) and (b) in last month).

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From: The FxPro Tech Analysis Team
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