CHF/JPY: buy targets - 130.00 and 131.60
By: Dmitriy Chernovolov
- CHF/JPY reversed from support level 128.20
- Next buy target - 130.00 and 131.60
CHF/JPY yesterday reversed up from the support zone lying between the following support levels: the support trendline of the daily up channel from March, the lower daily Bollinger Band, 50% Fibonacci Correction of the previous sharp minor impulse wave 1 and the support level 128.20 (which reversed the pair multiple times in May, as you can see below).
CHF/JPY is likely to continue to rise further from the current levels toward the next buy targets 130.00 and 131.60 (former support level which reversed (a) wave in June).