LeoPrime Daily Market Analysis

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CHFJPY broke key resistance level 142.000; Likely to rise to resistance level 146.000.


CHFJPY currency pair recently broke through the key resistance level 142.000 (top of the earlier minor impulse wave (iii) from last week), coinciding with the upper resistance trendline of the weekly up-channel from March. The breakout of these resistance levels accelerated the active impulse waves 3 and (v). Given the clear daily uptrend and the rising swiss franc bullishness seen across the currency markets today, CHFJPY currency pair can be expected to rise further toward the next resistance level 146.000 (target for the completion of the active impulse wave 3).

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