CHFJPY Wave Analysis 11 March, 2021

• CHFJPY broke resistance level 117.00

• Likely to rise to 117.80

CHFJPY recently broke the resistance level 117.00 (which was set as the likely upward target in our earlier forecast for this currency pair).

The breakout of the resistance level 117.00 continues the active upward wave (b) – which belongs to the ABC correction 4 from the middle of February.

CHFJPY is likely to rise further toward the next resistance level 117.80 (top of the previous wave (b) and the target for the completion of the active wave (b)).