Recent technical wave analysis from ActionForex highlights a divergence in global market performance, starting with a bullish reversal in the CHF/JPY pair. The currency pair successfully rebounded from the 200.00 psychological support level, with analysts projecting a move toward the 203.60 resistance zone. Conversely, European equity indices are showing significant weakness, as the DAX index broke through a critical long-term support level at 23000.00. This breakdown suggests a further decline for the German benchmark toward the 21500.00 mark. Similarly, the FTSE 100 has breached its support zone between 10100.00 and 10000.00, now targeting the 9645.00 level. These movements are driven by price action hitting key Fibonacci correction levels and breaking long-term trendlines. Investors are closely monitoring these technical shifts as they may signal broader bearish momentum for major European stock markets.
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