LeoPrime Daily Market Analysis

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CHJPY reversed from 106.75 support area ; Likely to rise to 108.20

 

CHJPY recently reversed up sharply from the support area lying at the intersection of the key support level 106.75 (monthly low from September), lower daily Bollinger Band and the support trendline of the wide daily down channel from the start of July. Given the strong bullish sentiment affecting the Swiss Franc at the moment – CHJPY is likely to remain under bullish pressure today and extend the gains toward the next resistance level 108.20 (low of the previous correction (a), which reversed the price multiple times in September).

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