CHFJPY Wave Analysis – 22 July, 2020

• CHFJPY broke multi-month resistance level 114.40

• Likely to rise to 115.50

CHFJPY recently broke the powerful, multi-month resistance level 114.40 (which has been steadily reversing the price from the middle of January).

The breakout of the resistance level 114.40 accelerated the active impulse waves 3 and (3).

CHFJPY is likely to rise further toward the next resistance level 115.50. Strong support now stands at the aforementioned price level 114.40.