CHFJPY Wave Analysis – 14 July, 2020

• CHFJPY reversed from support area

• Likely to rise to 114,600

CHFJPY recently reversed up with the daily Bullish Engulfing from the support area located between the support level 113,50 (low of wave (iv)) and 38.2% Fibonacci correction of the previous upward impulse wave (i).

The upward reversal from this support area started the active short-term impulse wave (iii).

CHFJPY is likely to rise further toward the next resistance level 114,600 (which stopped the previous minor impulse wave (i)).