August 19, 2020 at 03:41PM
• CHFJPY reversed from key resistance level 117.65
• Likely to fall to 115.60
CHFJPY recently reversed down from the key resistance level 117.65 (which stopped the sharp upward weekly correction (B) in the middle of 2018).
The resistance area near the resistance level 117.65 was strengthened by the upper weekly Bollinger Band.
Given the strongly overbought weekly Stochastic – CHFJPY is likely to fall further toward the next support level 115.60.
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/chfjpy-wave-analysis-19-august-2020-20200819/
Selected by fonecable.com
Search Web: CHFJPY Wave Analysis – 19 August, 2020
Recent Posts
- Australian Dollar Forecast: Major AUD/NZD Bottom May Soon Be Approaching
- British Pound Slips After Data, Still Tied to Range. Can GBP/USD Break Out Ahead of FOMC?
- How to Research Stocks: A Step by Step Guide
- Gold Price Outlook Turns to UofM Sentiment as US Dollar, Treasury Yields Rally
- New Zealand Dollar Outlook: NZD/USD Drops on US Dollar Bids, Wall Street Losses
