CHFJPY: ⬆️ Buy
– CHFJPY reversed from pivotal support level 192.60
– Likely to rise to resistance level 195.50
CHFJPY currency pair recently reversed up from the support zone between the pivotal support level 192.60 (former monthly high from October) and the support trendline of the daily up channel from October.
The upward reversal from this support zone started the active impulse wave 3 of the intermediate impulse wave (3) from the start of November.
Given the overriding uptrend on the daily charts, CHFJPY currency pair can be expected to rise to the next resistance level 195.50 (which stopped wave 1).
Source: Fxpro