Forex Trading Analysis
Hello Guys today is wednes day August 14th 2024 I am going to analyze JPYCHF currency pair let us start the top-to-bottom Elite wave analysis inside daily time frame the trend is down in Swiss frank versus JPY currency pairr Daily time frame resistance is present at 180.4 price level price action is most likely going to rise up to print bullish wave B pullback and then drop to print bearish wave C zigzag corrective leg incoming trading days decisive bullish breakout above 180.4 resistance area is going to end downtrend in daily chart of Swiss frank JPY currency pair
At 4hour time frame price action is printing lower swing highs and lower swing lows to me CHF JPY pair Trend looks down in 4hour time frame
At 1 hour time frame the trend is up in 1 hour chart intraday support is present at 16681 price level price action is most likely going to drop to print bearish wave B pullback and then rise up to print bullish wave C zigzag corrective leg which offers a chance to join an uptrend in CHF YEN pair a decisive bearish break below 16681 support level is going to end uptrend in one hour chart of Swiss frank versus Japanese yen currency pair
More specific the green color highlighted area offers a buying opportunity which is the previous second one lesser degree
