CHFJPY Wave Analysis

• CHFJPY reversed from support area
• Likely to rise to resistance level 125.70

CHFJPY currency pair recently reversed up from the support area located between the key support level 124.00 (which has been reversing the price from the start of February) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous short-term correction 2 of the higher order impusle wave (3).

CHFJPY can be expected to rise further toward the next resistance level 125.70 (which has been reversing the price from Janaury).