CHFJPY Wave Analysis 11 October 2024

– CHFJPY broke resistance zone

– Likely to rise to resistance level 174.90

CHFJPY currency pair under the bullish pressure after the earlier breakout of the resistance zone located between the key resistance level 172.00 (which stopped the previous waves A, C,E and (1)) and the 50% Fibonacci correction of the primary downward correction 4 from July.

The breakout of this resistance zone accelerated the active intermediate impulse sequence (3) from the end of September.

Given the rising bullish Swiss franc sentiment, CHFJPY currency pair be expected to rise further to the next resistance level 174.90.