(MENAFN- FxPro)
- CHFJPY reversed from resistance level 111.80
- Further gains are likely
CHFJPY recently reversed down from the key resistance level 111.80 (former strong support from October, which has been steadily reversing the price from the end of February).
The downward reversal from the resistance level 111.80 started the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (3).
CHFJPY is expected to fall further and re-test the next support level 110.00 (monthly low from March).
Source: FxPro
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