CHFJPY Wave Analysis – 15 June, 2020

• CHFJPY reversed from support zone

• Likely to rise to 113.70

CHFJPY recently reversed up from the support area lying between the key support level 112.5 (former monthly high from April) and the 38.2% Fibonacci correction of the previous upward impulse wave 1.

The upward reversal from this support zone stopped the earlier short-term corrective wave (a).

CHFJPY is likely to rise further toward the next resistance level 113.70 (top of the previous 4 consecutive candles).