#GBPCHF AND #CADJPY Wave Analysis (07 JUNE 2022)
#GBPCHF
- GBPCHF reversed from round support level 1.2000
- Likely to reach resistance level 1.22
GBPCHF recently reversed up from the key round support level 1.2000 (which has been repeatedly reversing the pair from the end of May) .
The support zone near the support level 1.2000 was strengthened by the lower daily Bollinger Band.
Having just broken above the key resistance 1.2110 (which has stopped all advances at the end of May), GBPCHF can be expected to rise further toward the next resistance level 1.22 (top of wave (ii) from last month).
#CADJPY
- CADJPY broke resistance level 102.00
- Likely to test resistance level 105.00
CADJPY recently broke above the strong resistance level 102.00 (which has been reversing the pair since the middle of April) .
The breakout of the resistance level 102.00 accelerated the active medium-term impulse wave (3) – which started earlier from the key support level 98.40.
Given the strong daily uptrend – CADJPY currency pair can be expected to rise further toward the next resistance level 105.00 (target price for the completion of the active impulse wave (3)).
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