CHF/JPY Continues To Move Downward Inside Intermediate Impulse Wave 3
Fabrizio Alessandro | Mar 23, 2017 08:23
CHF/JPY
CHF/JPY continues to move downward inside the intermediate impulse wave (3), started when the pair inverted down from the supply area between the resistance level 114.00 and the upper daily Bollinger Band®. The price earlier broke through the support trendline of the ascending channel from February, that enclosed the previous ABC correction (2), and accelerated the active wave (3). CHF/JPY should fall to the next short target at the support level 111.00.
AUD/JPY
AUD/JPY continues to fall, following the inversion from the distribution area between the resistance level 87.50, which reversed the earlier upward impulse creating the Japanese evening star pattern, and the 61.8% Fibonacci correction of the extended weekly downward impulse from May of 2015. AUD/JPY continue to descend to the next sell target at the support level 84.00.
AUD/CAD
AUD/CAD recently reversed from the area between the resistance level 1.0340, which stopped the previous sharp upward impulse in last November, and the upper daily Bollinger Band. The downward reversal from this resistance zone created the Japanese bearish engulfing pattern, marking the completion of the previous intermediate ABC correction (2). AUD/CAD is expected to fall to the next sell target at the support level 1.0120.
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