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CHFJPY recently reversed up with the daily Bullish Engulfing from the support area located between the pivotal support level 115.200, lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from June. Given the clear daily uptrend and the rising bullish sentiment affecting the Swiss franc today – CHFJPY is likely to rise further in the active impulse wave 5 toward the next resistance level 117.600 (former multi-candle top from last month).
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